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Institutions and Economic Transformation in Africa: Sectoral Analysis From Nigeria

Osabuohien, Evans and OLURINOLA, Isaiah Oluranti and Efobi R, Uchenna and Oluwatobi, Stephen and BEECROFT, Ibukun (2022) Institutions and Economic Transformation in Africa: Sectoral Analysis From Nigeria. Research Anthology on Business Continuity and Navigating Times of Crisis.

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Economic transformation suggests sustainable and inclusive economic development. It includes the changes in the structures of the economy in favour of more productive sectors to ensure consistent economic progress. This has been the earnest desire of most African countries. However, achieving economic transformation will require strong institutions, among others. The channels through which institutions can influence the process of economic development using specific country analyses are still under-researched. Thus, this study examines the importance of institutions in the development and sustenance of some important sectors: finance, education, technology, industry, and trade, believed to drive economic transformation. Drawing evidence from Nigeria, the study submits that institutions have varying influence on all the selected sectors. Thus, the role of specific sectoral planning based on a strong institutional framework cannot be over emphasized in a country's quest for economic transformation.

Item Type: Article
Subjects: H Social Sciences > H Social Sciences (General)
H Social Sciences > HB Economic Theory
H Social Sciences > HC Economic History and Conditions
Divisions: Faculty of Law, Arts and Social Sciences > School of Social Sciences
Depositing User: nwokealisi
Date Deposited: 14 Feb 2024 09:34
Last Modified: 14 Feb 2024 09:34

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