Institutions, Social Capital, and Economic Development in Africa: An Empirical Study
AbstractUsing 1975-2000 panel data, this paper examines the effects of institutions and social capital, in the form of generalized trust (proxied by contract-intensive money), on economic development in 39 African countries. The results indicate that there is a robust positive influence of social capital on income. In addition, the interaction between social capital and institutional quality, and the interaction of social capital with human capital also have a positive influence on economic development. On the other hand, institutions do not seem to have an independent effect (or may even have a negative impact) on income. Overall, the empirical results suggest that social capital and institutions in Africa may be complements rather than substitutes.
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Bibliographic InfoPaper provided by ICER - International Centre for Economic Research in its series ICER Working Papers with number 18-2005.
Length: 31 pages
Date of creation: Jul 2005
Date of revision:
This paper has been announced in the following NEP Reports:
- NEP-AFR-2005-09-17 (Africa)
- NEP-ALL-2005-09-17 (All new papers)
- NEP-DEV-2005-09-17 (Development)
- NEP-SOC-2005-09-17 (Social Norms & Social Capital)
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