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External Debts, Institutions and Growth in SSA

Author

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  • Lord Mensah
  • Godfred Bokpin
  • Eric Boachie-Yiadom

Abstract

The study investigates the impact of institutional quality on the external debt–growth nexus in SSA. Data from 36 SSA economies over the 1996–2013 periods were used. The results from the IV-System GMM imply that institutional quality has robust effects on the external debt–growth nexus. Thus, the impact of external debt on growth is through host nation’s institutional quality. However, the mediating effect of institutional quality on this nexus is up to a point. When a country is on the wrong side of the debt-laffer curve, external debt becomes irrelevant; and institutional quality can no longer help.

Suggested Citation

  • Lord Mensah & Godfred Bokpin & Eric Boachie-Yiadom, 2018. "External Debts, Institutions and Growth in SSA," Journal of African Business, Taylor & Francis Journals, vol. 19(4), pages 475-490, October.
    • Handle: RePEc:taf:wjabxx:v:19:y:2018:i:4:p:475-490
    DOI: 10.1080/15228916.2018.1452466
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    Cited by:

    1. Sami Ullah & Kishwar Ali & Muhammad Ehsan, 2022. "Foreign direct investment and economic growth nexus in the presence of domestic institutions: a regional comparative analysis," Asia-Pacific Journal of Regional Science, Springer, vol. 6(2), pages 735-758, June.
    2. Charles O Manasseh & Felicia C Abada & Ebelechukwu L Okiche & Ogochukwu Okanya & Ifeoma C Nwakoby & Peter Offu & Anuli R Ogbuagu & Chiedozie O Okafor & Paul C Obidike & Nnenna G Nwonye, 2022. "External debt and economic growth in Sub-Saharan Africa: Does governance matter?," PLOS ONE, Public Library of Science, vol. 17(3), pages 1-28, March.
    3. Taner Turan & Halit Yanıkkaya, 2021. "External debt, growth and investment for developing countries: some evidence for the debt overhang hypothesis," Portuguese Economic Journal, Springer;Instituto Superior de Economia e Gestao, vol. 20(3), pages 319-341, September.

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