Inclusive Growth in Africa: Do Democracy and Regime Sustainability Matter?
研究了民主和政权可持续性对非洲48国1995-2020年包容性增长的影响，发现两者整体上显著促进增长，但在资源丰富国家反而起反作用，可能与资源诅咒和寻租行为有关。
ABSTRACT Institutional quality in Africa has evolved over the last two decades, fuelling an extremely fertile literature. In this article, we examine the effects of democracy and regime sustainability on inclusive growth. Based on a sample of 48 African countries, we specify and estimate a panel data model by Ordinary Least Squares (OLS) and the Driscoll–Kraay method, whose robustness is confirmed via the Lewbel 2SLS method, and a dynamic panel data model proved by the System Generalized Method of Moments (S‐GMM) over the period 1995–2020. Our results show that democracy and regime sustainability significantly and statistically improve inclusive growth in Africa. The robustness of these results is confirmed by taking into account governance indicators and the homogenization of resource‐poor countries. However, regime sustainability and democracy significantly reduce inclusive growth in resource‐rich countries. Plausible explanations for the contradictory results lie in the curse of natural resources and the rentier behavior of certain political leaders, which complicate the structural transformation of natural endowments. We suggest an institutional optimisation by consolidating the institutional environment through the establishment of economic and political rules.