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Africa's Development: Institutions, Economic Reforms and Growth

Author

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  • Aloysius Ajab AMIN

    (Department of Economics, KIMEP University,Almaty, Kazakhstan)

Abstract

The paper examines the importance of relative prices, institutional quality and other factors which are regressed on the estimated total factor productivity (TFP). With panel data of 26 African countries for the period 1980-2011, the results show that relative prices have significant effects on TFP. Also the quality of institutions is an important determinant of noninput component of output growth. The macroeconomic measures to get prices right in sub Saharan Africa may also be constrained by the linkages of institutions to the macroeconomic variables. Thus, policies of getting prices right with establishing strong institutions are worth continuously pursuing with vigor.

Suggested Citation

  • Aloysius Ajab AMIN, 2013. "Africa's Development: Institutions, Economic Reforms and Growth," International Journal of Economics and Financial Issues, Econjournals, vol. 3(2), pages 324-336.
    • Handle: RePEc:eco:journ1:2013-02-6
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    Citations

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    Cited by:

    1. Jonathan E. Ogbuabor & Anthony Orji & Charles O. Manasseh & Onyinye I. Anthony-Orji, 2020. "Institutional Quality and Growth in West Africa: What Happened after the Great Recession?," International Advances in Economic Research, Springer;International Atlantic Economic Society, vol. 26(4), pages 343-361, November.
    2. Boateng, Elliot & Agbola, Frank W. & Mahmood, Amir, 2021. "Foreign aid volatility and economic growth in Sub-Saharan Africa: Does institutional quality matter?," Economic Modelling, Elsevier, vol. 96(C), pages 111-127.
    3. Dinkneh Gebre Borojo & Yushi Jiang, 2016. "The Impact of Africa-China Trade Openness on Technology Transfer and Economic Growth for Africa: A Dynamic Panel Data Approach," Annals of Economics and Finance, Society for AEF, vol. 17(2), pages 403-431, November.

    More about this item

    Keywords

    Prices; Growth; Total-factor-productivity; Africa; Institutions;
    All these keywords.

    JEL classification:

    • P22 - Political Economy and Comparative Economic Systems - - Socialist and Transition Economies - - - Prices
    • O43 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Institutions and Growth
    • O55 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies - - - Africa
    • O47 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Empirical Studies of Economic Growth; Aggregate Productivity; Cross-Country Output Convergence

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