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Effect of Economic Growth on Well-Being in Sub-Saharan Africa: Does Institutional Quality Matter?

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  • Séraphin, Prao Yao

    (Alassane Ouattara University/LAMPE - Laboratory of Economic Policies' Analysis and Modeling, Bouaké, Ivory Coast)

  • Valery, Koffi Mounoufié

    (Alassane Ouattara University/LAMPE - Laboratory of Economic Policies' Analysis and Modeling, Bouaké, Ivory Coast)

Abstract

This study analyzes the role of institutional quality in the relationship between economic growth and improved well-being in Sub-Saharan Africa over the period 2007-2021. This study collected data from the World Bank and Legatum Prosperity Index websites for 35 Sub-Saharan African countries. Methodologically, the study uses the generalized method of moments (GMM) in a two-stage system. The results reveal that economic growth reduces the well-being of populations, while institutional quality improves it. Furthermore, institutional quality mitigates the negative effect of economic growth on the well-being of populations. However, this effect is more pronounced in Anglo-Saxon countries than in French-speaking countries. Similarly, there are minimum thresholds of institutional quality beyond which economic growth contributes to improving the well-being of populations in Sub-Saharan Africa.

Suggested Citation

  • Séraphin, Prao Yao & Valery, Koffi Mounoufié, 2025. "Effect of Economic Growth on Well-Being in Sub-Saharan Africa: Does Institutional Quality Matter?," International Journal of Economics and Financial Issues, Econjournals, vol. 15(6), pages 63-70, October.
    • Handle: RePEc:eco:journ1:v:15:y:2025:i:6:id:20921
    DOI: 10.32479/ijefi.20921
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