Atlantic Economic Journal

, Volume 36, Issue 2, pp 165–181

Managing Risk in Africa Through Institutional Reform


DOI: 10.1007/s11293-008-9113-2

Cite this article as:
LeBel, P. Atl Econ J (2008) 36: 165. doi:10.1007/s11293-008-9113-2


African economies have experienced weak levels of growth in per capita income over the past decade. While standard models of growth suggest institutional governance as one key to success, thus far little attention has been given to the role of risk in institutional reform. In this paper, we use a nested panel regression model to estimate the economic value of institutional reform on economic growth, with data for 30 Sub-Saharan African countries from 1980–2004. Our findings provide a basis for measuring the economic value of institutional reform through its impact on reducing aggregate country risk.


Aggregate country risk Economics of institutions Africa 

JEL Codes

O10 O50 P00 

Copyright information

© International Atlantic Economic Society 2008

Authors and Affiliations

  1. 1.School of Business, Department of Economics and FinanceMontclair State UniversityMonclairUSA

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