Authors : Tijjani Musa Adamu and Mansur Muhammad
Abstract: This study simultaneously estimate dynamic model for each emerging economies in Africa which have achieve a sizeable level of economic growth overtime using annual time series data spanning 1980-2017. The choice of the period was explained by data availability as well as structural reform associated with the period. The study found long run equilibrium among real GDP, innovation proxy by high tech export and institutions in South Africa and Egypt while Nigeria, Kenya, Ghana and Senegal shown absence of long run association. Additional, the coefficient of long run estimates shows that innovation is positively and significantly related to real GDP in the short run for Egypt, Ghana, South Africa and Senegal while that of Kenya and Nigeria shows negative effect, long run coefficient of the models revealed that innovation is positively related to economic growth in Egypt, Kenya and Senegal while that of Nigeria, South Africa and Ghana shows negative relationship. This study recommend holistic approach to technological innovation in Africa as well enabling environment that allows for technological transfer and catch up process.
Tijjani Musa Adamu and Mansur Muhammad, 2019. Economic Growth, Innovation and Institutions in Emerging Economies in Africa: Evidence from Dynamic Simultaneous Equation Model. Journal of Economics Theory, 13: 1-6.