IDEAS home Printed from https://ideas.repec.org/a/eme/ijsepp/v39y2012i1-2p142-160.html
   My bibliography  Save this article

The role of institutions in economic development

Author

Listed:
  • Rasha Hashim Osman
  • Constantinos Alexiou
  • Persefoni Tsaliki

Abstract

Purpose - The purpose of this paper is to explore the alleged link between institutional quality and economic performance in 27 Sub‐Saharan Africa (SSA) countries during the period 1984‐2003. Design/methodology/approach - Four institutions' quality indicators, namely government stability, corruption, ethnic tensions and socioeconomic conditions, along with other control and policy variables, are employed in a panel data analysis. Findings - The institutional variables assume a key role in the process of economic development whereas the control variables display a limited effect. Thus, the “conventional variables” of economic theory may not be able to fully explain the SSA experience. Research limitations/implications - Future research efforts should explore how the vast changes experienced by the countries in that region influenced their economic evolution during the last decades. Practical implications - Policy makers should primarily focus on improving institutional quality, which is likely to positively affect economic performance in SSA countries. Social implications - Improving institutional infrastructure (enhancing rule of law and quality regulation, improving contract enforcement, securing property rights and reducing uncertainty) play a key role in delivering long‐run economic development and social prosperity. Originality/value - The paper analyzes the impact of institutional quality on economic performance using data from 27 SSA countries.

Suggested Citation

  • Rasha Hashim Osman & Constantinos Alexiou & Persefoni Tsaliki, 2012. "The role of institutions in economic development," International Journal of Social Economics, Emerald Group Publishing Limited, vol. 39(1/2), pages 142-160, January.
    • Handle: RePEc:eme:ijsepp:v:39:y:2012:i:1/2:p:142-160
    DOI: 10.1108/03068291211188910
    as

    Download full text from publisher

    File URL: https://www.emerald.com/insight/content/doi/10.1108/03068291211188910/full/html?utm_source=repec&utm_medium=feed&utm_campaign=repec
    Download Restriction: Access to full text is restricted to subscribers
    File URL: https://www.emerald.com/insight/content/doi/10.1108/03068291211188910/full/pdf?utm_source=repec&utm_medium=feed&utm_campaign=repec
    Download Restriction: Access to full text is restricted to subscribers
    File URL: https://libkey.io/10.1108/03068291211188910?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Constantinos Alexiou & Persefoni Tsaliki & Hashim Rasha Osman, 2014. "Institutional Quality And Economic Growth: Empirical Evidence From The Sudanese Economy," Economic Annals, Faculty of Economics and Business, University of Belgrade, vol. 59(203), pages 119-138, October –.
    2. Muhammad Asif & Abdul Majid, 2018. "Institutional quality, natural resources and FDI: empirical evidence from Pakistan," Eurasian Business Review, Springer;Eurasia Business and Economics Society, vol. 8(4), pages 391-407, December.
    3. Jonathan E. Ogbuabor & Onyinye I. Anthony-Orji & Oliver E. Ogbonna & Anthony Orji, 2019. "Regional integration and growth: New empirical evidence from WAEMU," Progress in Development Studies, , vol. 19(2), pages 123-143, April.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:eme:ijsepp:v:39:y:2012:i:1/2:p:142-160. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Emerald Support (email available below). General contact details of provider: .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.