The Impact of Institutions on Economic Growth: Panel data Analysis for Sub-Saharan African Countries

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socioeconomic

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paper

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This paper analyse the effects of institutions on economic growth in 44 sub-Saharan African countries from 2002 to 2022 using World Bank National Accounts data and OECD National Accounts data files in a GMM dynamic panel model. The overall results of the estimates show that institutions positively and significantly influence economic growth in sub-Saharan Africa. This means that overall institutional improvement improves economic growth in Sub-Saharan countries. Therefore, if the objective of sub-Saharan countries is to improve economic growth, these countries will have to improve these different institutions.

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