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An Analysis of the Impact of Freedoms on Economic Growth

Author

Listed:
  • John Kagochi

    () (University of Auburn)

  • Nii O. Tackie

    () (University of Tuskegee)

  • Henry Thompson

    () (University of Auburn)

Abstract

This paper examines the relationship between democracy and economic growth in Nigeria. We find no sizeable variations in economic growth as a result of changes in economic freedom. Political freedom, however, enhances economic growth. The results also suggest that while increases in capital investments have had positive effects on Nigeria's economic growth, increases in crude oil prices have not had similar effects. The study concludes that political freedom explains economic growth in Nigeria, but economic freedom does not.

Suggested Citation

  • John Kagochi & Nii O. Tackie & Henry Thompson, 2007. "An Analysis of the Impact of Freedoms on Economic Growth," Journal of African Development, African Finance and Economic Association, vol. 9(1), pages 13-29.
  • Handle: RePEc:afe:journl:v:9:y:2007:i:1:p:13-29
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