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Institutional quality and economic growth in East African economies

Author

Listed:
  • Moga Tano JILENGA

    (College of Economics and Trade, Hunan University, Changsha 410079, China.)

  • Xu HELIAN

    (College of Economics and Trade, Hunan University, Changsha 410079, China.)

Abstract

This study examines the effect of quality of institutions on economic growth in five East African countries using panel data for the period spanning from1996 to 2015. Fixed effects (FE) and random effects (RE) models were employed for estimation. Using Hausman test, FE was earmarked to be more appropriate model for this study. The empirical findings show that the quality of institution significantly impacts on economic growth. Political stability, government effectiveness, rule of law and control of corruption in particular are significant variables. Regulatory quality, voice and accountability indicate insignificant effect on growth. The results suggest that governance that promotes strong institutions is an important condition for economic growth. Particular focus should be focused on enhancing political stability, government effectiveness, rule of law and control of corruption so as to attain economic development.

Suggested Citation

Handle: RePEc:cvv:journ2:v:4:y:2017:i:3:p:282-289
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Keywords

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JEL classification:

  • O43 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Institutions and Growth
  • E20 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - General (includes Measurement and Data)
  • C33 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - Models with Panel Data; Spatio-temporal Models

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