There is growing emphasis on the role of institutions and governance on explaining Africa’s economic growth. However, it is not clear which of the institutions matter most. Therefore ,the objective of this paper is to answer two separate questions: (i) Do institutions rea lly matter in...

The debate on the use of fiscal policy for economic stabilization and inducement of economic growth is an old one. Key issue in this debate relates to the efficacy of public expenditure on stimulating economic growth. The neo-classical school held on extreme position by refuting the usage of...

There is voluminous literature on the impact of reforms, but little attention to the impact of institutional reforms on economic outcomes. Therefore, the focus of this paper is to examine the effects of economic and political institutional reforms on growth and investment in Africa. Treatment...

This thesis investigates the relationship between financial development and economic growth in Sub Saharan Africa for the period 1970-2005. The first chapter assesses three growth theories using panel data. The study lends empirical credence to the endogenous growth theory, but finds weak...