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Knowledge-Driven Economic Growth: The Case of Sub-Saharan Africa

Author

Listed:
  • Stephen Oluwatobi

    () (Covenant University, Ota, Ogun State, Nigeria)

  • Isaiah Olurinola

    () (Covenant University, Ota, Ogun State, Nigeria)

  • Philip Alege

    () (Covenant University, Ota, Ogun State, Nigeria)

  • Adeyemi Ogundipe

    () (Covenant University, Ota, Ogun State, Nigeria)

Abstract

The experience of South Korea, India, China and Singapore reveals that developing economies can fasttrack development, leapfrog the stages of development and catch up with advanced economies by putting knowledge capital as the driver of development. If the knowledge economy is therefore an accelerant of development for both advanced and developing economies, it is possible for Sub-Saharan African (SSA) economies to also catch up with advanced economies. It was on this basis that this study assessed the knowledge capacity of SSA and the effect it has on its economic advancement. Given the importance of the interrelatedness among the knowledge economy elements, this study, thus, examined how the interaction effect between the elements of the knowledge economy affects economic growth in 32 SSA countries, for which data were available, over the period of 17 years (1996-2012). Using the System Generalized Method of Moments (SGMM), the study found out that institutions and human capital in SSA mitigate the effect of innovation on economic growth in the region, thus, making it a lean knowledge economy.

Suggested Citation

  • Stephen Oluwatobi & Isaiah Olurinola & Philip Alege & Adeyemi Ogundipe, 2018. "Knowledge-Driven Economic Growth: The Case of Sub-Saharan Africa," Research Africa Network Working Papers 18/030, Research Africa Network (RAN).
  • Handle: RePEc:abh:wpaper:18/030
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    File URL: http://publications.resanet.org/RePEc/abh/abh-wpaper/Knowledge-Driven-Economic-Growth-in-SSA.pdf
    File Function: Revised version, 2018
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    Citations

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    Cited by:

    1. Asongu, Simplice A & Odhiambo, Nicholas M, 2019. "Taxation,foreign aid and political governance in Africa," Working Papers 25396, University of South Africa, Department of Economics.
    2. Simplice A. Asongu & John Kuada, 2020. "Building knowledge economies in Africa: an introduction," Contemporary Social Science, Taylor & Francis Journals, vol. 15(1), pages 1-6, January.
    3. Simplice A. Asongu & Joseph I. Uduji & Elda N. Okolo-Obasi, 2019. "Foreign aid volatility and lifelong learning," Working Papers 19/086, European Xtramile Centre of African Studies (EXCAS).

    More about this item

    Keywords

    Economic Growth; Human Capital; ICT; Innovation; Institutions; Knowledge Economy;

    JEL classification:

    • O10 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - General
    • O30 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - General
    • O38 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Government Policy
    • O55 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies - - - Africa
    • O57 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies - - - Comparative Studies of Countries

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