Corruption, Political Instability and Development Nexus in Africa: A Call for Sequential Policies Reforms

The study examined the extent of the effect of control of corruption and political (in)stability on economic development in African countries. The study employed System General Method of Moment (GMM) framework on recent pooled of data from thirty-seven African countries over a period of 1996 and 2016.The study found evidence of political instability though not statistically significant and ineffective control of corruption in African countries. The study also found that simultaneous implementation of policies towards ensuring political stability and effective control of corruption are not complementary and has more negative impact on development in the region. Both policies are substitute in the context of African economy, and hence should be pursued through sequential reforms. This study also found that continuous implementation of the current policies towards having both political stability and effective corruption control may not have positive impact on development in Africa. The study strongly supports sequential policy reform in the region and also recommends review of the ongoing policies towards ensuring effective control of corruption in the region.