PUBLIC FINANCE INSTRUMENTS AND OUTPUT GROWTH IN NIGERIA
September 24, 2024EXCHANGE RATE MOVEMENT AND STOCK RETURNS IN MOST CAPITALISED ECONOMIES IN SUB-SAHARAN AFRICA
September 24, 2024PUBLIC FINANCE INSTRUMENTS AND OUTPUT GROWTH IN NIGERIA
September 24, 2024EXCHANGE RATE MOVEMENT AND STOCK RETURNS IN MOST CAPITALISED ECONOMIES IN SUB-SAHARAN AFRICA
September 24, 2024Peter Tobi Awe1 & Abdulganiyu Idris Abdulrahman2*
1PG student, Department of Economics, Faculty of Social Sciences, University of Ilorin, Ilorin, Nigeria
2Department of Economics, Faculty of Social Sciences, University of Ilorin, Ilorin, Nigeria
*Corresponding author’s email: agrahman@unilorin.edu.ng
Abstract
This study examined the impact of institutional systems drawn from economic and political institutions on the quality of life in Sub-Saharan Africa. A panel data of thirty-seven Sub-Saharan African countries over the period 2007 to 2021 sourced from the World Bank database and Heritage Foundation. A two-step system-Generalised Method of Movement (GMM) technique was employed to estimate the model. The Sargan test for over-identification restriction and the Arellano-Bond test for second-order serial correlation were conducted. The study reveals that there is a positive relationship between the institutional systems and the quality of life in Sub-Saharan Africa. The study concluded that, for the quality of life in Sub-Saharan Africa to improve, the government in Sub-Saharan Africa should implement laws and policies that will strengthen the existing institutions to improve the quality of life of the people.
Keywords: Political institution, Economic institution, Quality of life, Sub-Saharan Africa