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Periodical article Periodical article Leiden University catalogue Leiden University catalogue WorldCat catalogue WorldCat
Title:Economic backwardness in Nigeria and Bangladesh: an institutional analysis
Authors:Ayinde, Aremu Fatai
Miah, Md. DulalISNI
Periodical:Nigerian Journal of International Affairs (ISSN 0331-3646)
Geographic term:Nigeria
institutional change
educational policy
public enterprises
Abstract:The authors examine what separates developed countries from underdeveloped countries, arguing that institutional efficiency or constraints determine whether a country will progress or retrogress over a period of time. Using the deteriorating quality of Nigeria's education system and the collapse of the once vibrant jute industry in Bangladesh as case studies, the authors posit that technology, capital and other similar factors are necessary but not sufficient to propel a country's economic growth. Countries that have failed to design appropriate and efficient institutional mechanisms that guarantee property rights by constraining government excesses and political expropriation as well as curbing unproductive rent seeking, tend to lag far behind in tapping from the benefits of globalization. Ref., sum. [ASC Leiden abstract]