Clement Oppong, Abukari Salifu Atchulo, Shenell Fatia Oman
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Public debt and economic growth nexus in sub-saharan Africa: does institutional quality matter?
ABSTRACT This paper investigates the effect of institutional quality and public debt on economic growth among sub-Saharan African countries. The study employs the System Generalized Method of Moments (SGMM) and the Fixed Effect techniques on data from 35 Sub Saharan African countries (sourced from the World Development Indicators (WDI) and the World Governance Index (WGI) databases from 2010 to 2020). The results reveal that institutional quality has a significantly negative effect on public debt; public debt has a significantly negative effect on economic growth; and institutional quality has a significantly positive effect on economic growth. This suggests that countries with weak institutions may have debt overhang deleterious to economic growth.
期刊介绍：
International Review of Applied Economics is devoted to the practical applications of economic ideas. Applied economics is widely interpreted to embrace empirical work and the application of economics to the evaluation and development of economic policies. The interaction between empirical work and economic policy is an important feature of the journal. The Journal is peer reviewed and international in scope. Articles that draw lessons from the experience of one country for the benefit of others, or that seek to make cross-country comparisons are particularly welcomed. Contributions which discuss policy issues from theoretical positions neglected in other journals are also encouraged.
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