Abstract
The objective of this research is to re-examine on one hand, the effect of natural resource exploitation on economic growth of African countries, and on the other hand, analyse the role of institutions of governance in transmitting these effects. By adopting a GMM technique in a dynamic panel, we show that over the period 2002 to 2018, natural resource rents have a positive influence on economic growth in African countries. This effect disappears when we control the econometric model with variables such as control of corruption indicator, political stability measure and quality of regulation. Hence, Governments and political leaders need to fight corruption through transparency in the management of rents from natural resources and it’s exploitation. In addition, there is a need to ensure political stability through greater transparency in electoral processes and respect of the will of citizens. Finally, for a better regulation, government should set up necessary policies for emergence and for a good functioning of the private sector.
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