Can Economies Grow Without Credible Governance?

Abstract

The study investigated how credible governance could affect economic growth using data from Nigeria. .  The study used time series data covering a period of 28 years (1996 - 2023) and employed the ARDL technique to empirically study the effect of political instability on economic growth in Nigeria. The data used for the analysis were sourced from World Bank Development Indicators. The findings from the study revealed that regulatory quality exerted a significant and posiitve effect on economic growth in Nigeria, in the short run. Also, government effectiveness positively impacted economic growth in  the short, while rule  of law  has a negative effect on economic growth in Nigeria,  in the short run. The findings highlight the importance of long-term policies that will continue to build institutional quality so as to maximize its positive effect on the economy.

Key words , Economic Growth, Rent seeking, Rule law, Political stability, good governance, Regulatory quality

DOI: 10.7176/EJBM/18-4-03

Publication date: April 30^th 2026