Politics and Consumer Prices in Africa
AbstractThe motivations of the Arab Spring that have marked the history of humanity over the last few months have left political economists, researchers, governments and international policymakers pondering over how the quality of political institutions affect consumer welfare in terms of commodity prices. This paper investigates the effects of political establishments on consumer prices in the African continent. Findings suggest that in comparison with authoritarian regimes, democracies better provide for institutions that keep inflationary pressures on commodity prices in check. As a policy implication, improving the quality of democratic institutions will ameliorate consumer welfare through lower inflation rates. Such government quality institutional determinants include, among others: voice and accountability, rule of law, regulation quality, control of corruption and press freedom.
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Bibliographic InfoPaper provided by African Governance and Development Institute. in its series Working Papers with number 12/032.
Date of creation: 25 Jan 2012
Date of revision:
Consumer prices; Political institutions; Welfare; Africa;
Other versions of this item:
- I30 - Health, Education, and Welfare - - Welfare, Well-Being, and Poverty - - - General
- O00 - Economic Development, Technological Change, and Growth - - General - - - General
- P00 - Economic Systems - - General - - - General
- Q00 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - General - - - General
- P50 - Economic Systems - - Comparative Economic Systems - - - General
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