Innovation in Africa: Why Institutions Matter

28 Pages Posted: 2 Jul 2014

See all articles by Stephen Oluwatobi

Stephen Oluwatobi

Covenant University

Uchenna Efobi

Covenant University

Oluranti Olurinola

Covenant University

Philip O. Alege

Covenant University

Date Written: June 30, 2014

Abstract

Given the role that innovation plays as an engine for economic development, we examined the enabling factor of institutions in Africa. Particularly, attention was given to determining the equivalent effects of institutional development on innovation. A sample of 40 African countries over the period 1996-2012 was employed; and our baseline equation was estimated using the Systems Generalized Method of Moments estimation technique. The empirical result, reveals that government effectiveness and regulatory quality are two institutional measures that have the most equivalent impact on innovation. This result is robust in diverse respects.

Keywords: Africa, Human Capital, Innovation, Institutions

JEL Classification: J24; O31; O32; O43

Suggested Citation

Oluwatobi, Stephen and Efobi, Uchenna and Olurinola, Oluranti and Alege, Philip Olasupo, Innovation in Africa: Why Institutions Matter (June 30, 2014). Available at SSRN: https://ssrn.com/abstract=2460959 or http://dx.doi.org/10.2139/ssrn.2460959

Stephen Oluwatobi

Covenant University ( email )

P.M.B. 1023
Km 10 Idiroko road
Ota, Ogun State 234
Nigeria

Uchenna Efobi (Contact Author)

Covenant University ( email )

P.M.B. 1023
Km 10 Idiroko road
Ota, Ogun State 234
Nigeria

Oluranti Olurinola

Covenant University ( email )

Canaanland
Km 10 Idiroko road
Ota, 24001
Nigeria

Philip Olasupo Alege

Covenant University ( email )

P.M.B. 1023
Km 10 Idiroko road
Ota, Ogun State 234
Nigeria

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