This paper sought to outline mechanisms for selecting high quality leaders into public office having identified the failure of political leadership as the bane of economic development and democracy in Africa. In the first stage of the screening process, certain elements of costs are imposed on...

This paper sought to outline mechanisms for selecting high quality leaders into public office having identified the failure of political leadership as the bane of economic development and democracy in Africa. In the first stage of the screening process, certain elements of costs are imposed on...

Government at any given level and over a defined territory can be treated as a typical example of a natural monopoly in the sense that only one can exist at any particular time. Thus, the traditional theories of costs and monopoly can be very useful in the analysis of the cost structure of...

This paper shows that the attainment and sustenance of full employment in a modern economy is dependent on the quality of political leaders, their choice of discount rate and the institutional restrictions that place a limit on predation of public resources or it conversion to private use. In...

The principal purpose of this essay is to examine the critical barriers militating against the growth of SMEs in Nigeria. Using purely descriptive approach, we examined the new perception of SMEs and their place within the neoclassical literature. Within the Nigerian context, we identified...

This essay proposes a conceptual framework which shows that the absence of a critical mass of growth-promoting entrepreneurs in many less developing countries is the equilibrium outcome of the existing institutional structure. This institutional structure is characterised by one perverse...

This study examines causal impact of 1976 Universal Primary Education (UPE) on individual schooling attainment in the Nigeria. This study exploits the quasi-natural experiment offered by the large-scale government investment in Universal Primary Education between 1976 and 1981 to confront the...

This essay, having identified the failure of political leadership as the bane of economic development and democracy in Africa, has outlined mechanisms for selecting high quality leaders into public office. In the first stage of the screening process, certain elements of costs are imposed on the...

In this study attempt to estimate the impact of schooling attainment on an important indicator of labour market performance: wealth. OLS and IV regressions produced economically and statistically significant estimates, with OLS estimate of about 18 percent and IV estimate of about 30 percent...

This chapter attempts to establish the fact that much of Africa's development problems have strong institutional roots. Other identified factors, including the issue of pareto-inferior trade and industrial policies, might be mere reflection of the faulty institutional foundation of most African...