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Do Institutions and Social Capital matter in the Economic Development of Nigeria?

Author

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  • Eugene Okoi IFERE

    (Department of Economics, Faculty of Social Sciences, Federal University Lafia, Nasarawa State-Nigeria.)

  • Naomi Onyeje Doki

    (SDepartment of Economics, Faculty of Social Sciences, Benue State University, Markurdi- Benue State, Nigeria.)

Abstract

This paper addresses the impact of institutions and social capital on economic development of Nigeria. It advanced an argument that economic prosperity of a country is embedded in social organizations and transformations of her institutions built from social capital. The methodology adopted was quantitative and qualitative. The results present a declining negative impact of social capital and institutional variables on economic development; affirming the importance of social capital on institutional quality. Therefore, the way forward is taking a tougher stance against abuse of power and employ mechanism of social capital to reconcile conflict among social, political and economic interest groups.

Suggested Citation

  • Eugene Okoi IFERE & Naomi Onyeje Doki, 2017. "Do Institutions and Social Capital matter in the Economic Development of Nigeria?," Journal of Economic and Social Thought, KSP Journals, vol. 4(2), pages 232-246, June.
    • Handle: RePEc:ksp:journ3:v:4:y:2017:i:2:p:232-246
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    References listed on IDEAS

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    1. Theresa Hager, 2020. "Special Interest Groups and Growth: A Meta-Analysis of Mancur Olsons Theory," ICAE Working Papers 116, Johannes Kepler University, Institute for Comprehensive Analysis of the Economy.

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    More about this item

    Keywords

    Institutions; Social capital; Economic development.;
    All these keywords.

    JEL classification:

    • D70 - Microeconomics - - Analysis of Collective Decision-Making - - - General
    • H10 - Public Economics - - Structure and Scope of Government - - - General
    • O10 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - General
    • O40 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - General

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