Theoretical and Applied Economics
No. 4 / 2025 (645), Winter
Institutional governance in developing countries, political factors as drivers of institutional change: evidence from sub-Saharan Africa
Thomas SANKARA University, Burkina Faso
Ibrahim OUEDRAOGO
Nazi Boni University, Burkina Faso
Abstract. This article provides a theoretical and empirical analysis of institutional dynamism in 38 sub-Saharan African countries, considering institutions as a form of capital. Empirical results show, using the generalized least squares method, the maximum likelihood method, the Akaike information criterion, the Bayes information criterion, and the Davidson and Mackinnon (1981) non-nested hypothesis test, that institutional change is fundamentally linked to political factors. Democracy, regime characteristics, autocracy, income inequality, and natural resource rents are fundamental to the institutional capital stock. However, the cultural environment is a determinant of institutional equilibrium, which is the central element in institutional determination in SSA countries.
Contents
Dynamic risk spillovers in European Stock Markets: a TVP-VAR Approach
Co-movement and causality among exchange rates: a wavelet analysis
Financial development and economic growth in emerging economies: the mediating role of entrepreneurship
House prices and macroprudential policy in the Romanian economy: evidence from a BVAR analysis
The impact of short-run and long-run dynamics on manufacturing sector development in Indonesia and Malaysia
Purchasing Power Parity theory in exchange rate determination: evidences from the G-20 nations
Assessment of external macroeconomic imbalances in Romania
Remittances and domestic demand: evidence from Romania
How do energy consumption, natural resources, trade openness and FDI affect environmental quality in Algeria? Fresh insights from the novel DYNARDL simulations and KRLS approach
The acceleration of education: professors, AI platforms and the transformation of learning and human growth
Poverty, unemployment, and mental health: differential impacts among university graduates in Kenya, South Africa, Uganda, and Zambia
Assessing the relationship between institutions and economic development
Cedi depreciation and petroleum price shocks: economic interlinkages and macroeconomic implications
Effects of climate change on food security and sustainable development in Saudi Arabia: Autoregressive Distributed Lag approach
Corruption in digital environments
Beyond linearity: an ARDL threshold analysis of inflation's impact on Tanzania's economic growth from 1994 to 2024
Sustainable consumption and experimental economics – a bibliometric analysis
Heterogeneous and dynamic impacts of growth, urbanization, deforestation, and energy intensity on environmental degradation in Africa using the MM-Quantile regression method
Institutional governance in developing countries, political factors as drivers of institutional change: evidence from sub-Saharan Africa