Market Governance and Emerging Economies in Africa: A Dynamic Panel Analysis

Toussaint Houeninvo () and Germain Lankoande
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Toussaint Houeninvo: Country Economics Department, African Development Bank
Germain Lankoande: National School of Applied Statistics and Economics

A chapter in The Palgrave Handbook of Africa’s Economic Sectors, 2022, pp 977-994 from Springer

Abstract: Abstract In the 1980s several African countries embarked on economic liberalization programs based on empirical evidence suggesting that liberalization promoted growth, and in the early 1990s they followed these programs with political liberalization. The programs yielded mixed results. This chapter contributes to the non-ideological debate on the appropriate development model by investigating the role of market governance in driving rapid growth and thereby positioning African countries on an emerging path. It uses fixed effects two-stage least squares analysis in a dynamic panel of 12 Sub-Saharan countries over 2003–18. The findings show that the total effect of the cost of doing business on economic growth is negative, unlike net foreign direct investment and population growth, which have positive and significant effects.

Keywords: Market Governance; Emerging Economy; Cost of Doing Business; Africa (search for similar items in EconPapers)
Date: 2022
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-3-030-75556-0_38

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DOI: 10.1007/978-3-030-75556-0_38

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