Economics

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Characteristics and behaviour of African factor markets and market institutions and their consequences for growth
(Center for International Development, Harvard University, 1999-12) Adenikinju, A. F.; Oyeranti, O.
This paper provides a detailed characterisation of the structure and behaviour of African factor markets and the institutions that impact on their operations. It shows that the African factor markets are imperfect and inefficient, thus constraining economic growth. The paper posits that for the current reform programmes to succeed, policy that enhances the efficiency and competitiveness of the African factor markets must be put in place.
Natural Resource Abundance, Institutions and Economic Growth in Africa
(Inderscience Enterprises LTD, 2015) Oyinlola, M. A.; Adeniyi, O. A.; Raheem, I. D.
The study analysed the effect of institution on resource curse abundance-economic growth nexus using the system generalised method of moments. The empirical results refute the resource curse hypothesis in Africa. In addition, institutions have dampening effect on the nexus. This stems from the fact that the institutional development level of most African countries is weak. The study also found out that the resource curse hypothesis is not peculiar to oil wealth as indicated in the literature. Lastly, our results do not support the rentier effect as a possible channel of the hypothesis.