Effect of the quality of institutions on economic growth in WAEMU countries

Abstract

The main objective of this article is to analyze the effect of the quality of institutions on economic growth in WAEMU. To do this, we estimated an Autoregressive Distributed Lag (ARDL) model on a panel based on data from seven countries in this area over the period 2002-2021. Following the use of the Pooled Mean Group (PMG) estimator, the results show that in the long term, the quality of institutions has a positive and significant effect on the economic growth of WAEMU countries. These results suggest the need for decision-makers in WAEMU countries to commit to strengthening the quality of their institutions in order to best accelerate the growth process of their economies.