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Institution and Economic Growth performance in Nigeria

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  • Dandume, Muhammad Yusuf

Abstract

Emerging consensuses among growth economists view good institutions as the key determinant of improving economic growth. This study examines weather institutions measures, such as more transparent, accountable government, rule of law, sound civil liberty and competitive political participation are precondition for implementing policies for achieving economic growth in Nigeria. In order to obtain the aforementioned objective, we employed ARDL approach to co-integration and Causality. The findings of this study indicate long run relationships between institutions and economic growth. However, on the direction of the relationship the findings suggest two –way causal relationship, which implies, economic growth and Institution causes each other. In other words despite, much rhetoric to the contrary good institutions in Nigeria requires resources, which implies that poor institutions are associated with having low income. The policy implication is that for Nigeria to achieved better institutions emphasis must be given to critical growth driven sectors.

Suggested Citation

  • Dandume, Muhammad Yusuf, 2013. "Institution and Economic Growth performance in Nigeria," MPRA Paper 52356, University Library of Munich, Germany, revised 2013.
  • Handle: RePEc:pra:mprapa:52356
    as

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    File URL: https://mpra.ub.uni-muenchen.de/52356/1/MPRA_paper_52356.pdf
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    References listed on IDEAS

    as
    1. La Porta, Rafael & Lopez-de-Silanes, Florencio & Shleifer, Andrei & Vishny, Robert, 1999. "The Quality of Government," Journal of Law, Economics, and Organization, Oxford University Press, vol. 15(1), pages 222-279, April.
    2. Daron Acemoglu & Simon Johnson & James A. Robinson, 2002. "Reversal of Fortune: Geography and Institutions in the Making of the Modern World Income Distribution," The Quarterly Journal of Economics, Oxford University Press, vol. 117(4), pages 1231-1294.
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    4. Edward L. Glaeser & Rafael La Porta & Florencio Lopez-de-Silanes & Andrei Shleifer, 2004. "Do Institutions Cause Growth?," Journal of Economic Growth, Springer, vol. 9(3), pages 271-303, September.
    5. Dani Rodrik, 2010. "Diagnostics before Prescription," Journal of Economic Perspectives, American Economic Association, vol. 24(3), pages 33-44, Summer.
    6. Dollar, David & Kraay, Aart, 2003. "Institutions, trade, and growth," Journal of Monetary Economics, Elsevier, vol. 50(1), pages 133-162, January.
    7. Mauro, Paolo, 1998. "Corruption and the composition of government expenditure," Journal of Public Economics, Elsevier, vol. 69(2), pages 263-279, June.
    8. repec:hrv:faseco:30747160 is not listed on IDEAS
    9. Høyland, Bjørn & Moene, Karl & Willumsen, Fredrik, 2012. "The tyranny of international index rankings," Journal of Development Economics, Elsevier, vol. 97(1), pages 1-14.
    10. Author-Name: Jeffrey D. Sachs & John W. McArthur & Guido Schmidt-Traub & Margaret Kruk & Chandrika Bahadur & Michael Faye & Gordon McCord, 2004. "Ending Africa's Poverty Trap," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 35(1), pages 117-240.
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    More about this item

    Keywords

    Institutions; Growth; Sustainable Development; Nigerian Economy;

    JEL classification:

    • P30 - Economic Systems - - Socialist Institutions and Their Transitions - - - General

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