Institution and Economic Growth performance in Nigeria
AbstractEmerging consensuses among growth economists view good institutions as the key determinant of improving economic growth. This study examines weather institutions measures, such as more transparent, accountable government, rule of law, sound civil liberty and competitive political participation are precondition for implementing policies for achieving economic growth in Nigeria. In order to obtain the aforementioned objective, we employed ARDL approach to co-integration and Causality. The findings of this study indicate long run relationships between institutions and economic growth. However, on the direction of the relationship the findings suggest two –way causal relationship, which implies, economic growth and Institution causes each other. In other words despite, much rhetoric to the contrary good institutions in Nigeria requires resources, which implies that poor institutions are associated with having low income. The policy implication is that for Nigeria to achieved better institutions emphasis must be given to critical growth driven sectors.
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Bibliographic InfoPaper provided by University Library of Munich, Germany in its series MPRA Paper with number 52356.
Date of creation: 2013
Date of revision: 2013
Institutions; Growth; Sustainable Development; Nigerian Economy;
Find related papers by JEL classification:
- P30 - Economic Systems - - Socialist Institutions and Their Transitions - - - General
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