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Politics and Consumer Prices in Africa

Author

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  • Asongu Simplice

    () (Yaoundé/Cameroun)

Abstract

The motivations of the Arab Spring that have marked the history of humanity over the last few months have left political economists, researchers, governments and international policymakers pondering over how the quality of political institutions affect consumer welfare in terms of commodity prices. This paper investigates the effects of political establishments on consumer prices in the African continent. Findings suggest that in comparison with authoritarian regimes, democracies better provide for institutions that keep inflationary pressures on commodity prices in check. As a policy implication, improving the quality of democratic institutions will ameliorate consumer welfare through lower inflation rates. Such government quality institutional determinants include, among others: voice and accountability, rule of law, regulation quality, control of corruption and press freedom.

Suggested Citation

  • Asongu Simplice, 2012. "Politics and Consumer Prices in Africa," Working Papers 12/032, African Governance and Development Institute..
  • Handle: RePEc:agd:wpaper:12/032
    as

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    File URL: http://www.afridev.org/RePEc/agd/agd-wpaper/Politics-and-Consumer-Prices-in-Africa.pdf
    File Function: Revised version, 2013
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    References listed on IDEAS

    as
    1. Simplice A. Asongu, 2014. "Finance and Democracy in Africa," Institutions and Economies (formerly known as International Journal of Institutions and Economies), Faculty of Economics and Administration, University of Malaya, vol. 6(3), pages 92-116, October.
    2. Simplice A. Asongu, 2012. "Law and Finance in Africa," Brussels Economic Review, ULB -- Universite Libre de Bruxelles, vol. 55(4), pages 385-408.
    3. repec:umk:journl:v:8:y:2016:i:2:p:95-124 is not listed on IDEAS
    4. Asongu Simplice, 2011. "Why do French civil-law countries have higher levels of financial efficiency?," Working Papers 11/011, African Governance and Development Institute..
    5. Simplice A. Asongu, 2016. "Law and Investment in Africa," Institutions and Economies (formerly known as International Journal of Institutions and Economies), Faculty of Economics and Administration, University of Malaya, vol. 8(2), pages 95-124, April.
    6. Stulz, Rene M. & Williamson, Rohan, 2003. "Culture, openness, and finance," Journal of Financial Economics, Elsevier, vol. 70(3), pages 313-349, December.
    Full references (including those not matched with items on IDEAS)

    Citations

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    Cited by:

    1. Simplice A. Asongu, 2013. "Fighting Corruption when Existing Corruption-Control Levels Count: What do Wealth-Effects Tell us in Africa?," Institutions and Economies (formerly known as International Journal of Institutions and Economies), Faculty of Economics and Administration, University of Malaya, vol. 5(3), pages 53-74, October.

    More about this item

    Keywords

    Consumer prices; Political institutions; Welfare; Africa;

    JEL classification:

    • I30 - Health, Education, and Welfare - - Welfare, Well-Being, and Poverty - - - General
    • O00 - Economic Development, Innovation, Technological Change, and Growth - - General - - - General
    • P00 - Economic Systems - - General - - - General
    • Q00 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - General - - - General
    • P50 - Economic Systems - - Comparative Economic Systems - - - General

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