Institutions and the Economic Development of Africa
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This paper explores the effect of institutions on the economic development of African countries in 2013. Previous studies showed opposing results in the past periods, some emphasizing the role of geography, others underlining the effects of institutions or policies. According to the analysis conducted in this paper using data on 48 countries, institutions can be considered a powerful factor explaining differences in development, while geography isn’t significant. The roles of physical infrastructure and human capital are also essential.