Innovation and Development in Sub-Sahara Africa: The Role of Institutional Development and Inter Alia

Abstract

Science, Technology and Innovation (STI) is gradually seen by countries in Sub-Sahara African as the engine for economic growth and general uplifting of the standard of living. As a result, Innovation is embraced but institutional weaknesses hinder the required outcome. This paper's aim is to examine the connection between innovation and development in sub-Saharan Africa while considering the function of institutes and other elements. This is in light of the fact that institutions act as the lubricant for progress. The Middle East and North Africa are not included in the scope of the paper, which largely focuses on sub-Saharan African nations. Some western nations and developing economies are, nonetheless, occasionally used as comparison points. We analyze data from reputable organizations like the World Bank, Polity IV, and considering a gauge of innovation and GDP per capita, the quantity of scientific publications published as a proxy for development, the Economic Freedom of the World Project will evaluate a panel of 22 economies in sub-Saharan Africa (EFW). Our results from the POLS and GMM IV regression show, among other things, that innovation has a favorable impact on the development of Africa, even though the impact looks insignificant. Although the majority of the nations in the county have established institutional frameworks for science, technology, and innovation (STI), evidence suggests that the slow rate at which innovation contributes to national development is due to obstacles in the design and implementation of STI policies. The outcome highlights the region's little advancement in the technology-capability indicators. To establish and execute STI policies in the region, a lot more has to be done in the area of collaboration between public entities and parastatals.