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Hammed A. Adefeso
Department of Local Government and Development Studies, Obafemi Awolowo University, Ile-Ife, Nigeria
Publications
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Review Article
Institutional Quality and Development Nexus in Africa Revisited: ARDL Panel Approach
Author(s): Hammed A. Adefeso* and Isiaka O. Aransi
This study re-examines short and long run links between institutional quality and development in 51 African countries panel from 1972-2020 by estimating Panel Autoregressive Distributive Lag (ARDL) model. The study employs principal component analysis to generate data for political institution, economic institution and legal institution as well as total/overall institution. The study finds evidence of long run relationship between the quality of institutions and development in African countries. Specifically, the study finds insignificant positive relationship between all institution indexes and GDP per capita in the short run with exception of economic institution, which has negative impact. In the long run however, all institution indexes have significant negative relationship development except legal institution, which has insignificant impact. Estimate from ov.. View more»