2021
DOI: 10.1080/23311886.2021.1918370
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Does liberal democracy promote economic development? interrogating electoral cost and development trade-off in Nigeria’s fourth republic

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Cited by 7 publications
(4 citation statements)
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“…Williams (2014) on the effect of transparency on output volatility using data from 1980-2009 for OECD countries argue that it is the political and economic transparency that arises out of democracy that leads to a relative stability in output growth, given that the ability of a country to adjust and adapt to shocks, be they internal or external, is more pronounced in countries where the flows of information are better. Improving on the methodology of previous papers, Okolie et al (2021) uses the Marxist Instrumentalist framework of analysis and content analysis on democracydevelopment hypothesis in developing countries admits that the domestication of the core principles of liberal democracy is important for sustainable growth in Africa. To the authors, endogenous variables such as corruption, electoral malpractice, leadership deficit, ethno-regional power contestation, insecurity, weak government institutions and fragile civil society militate against development in developing countries and hence, attainment of expected development under democracy is hindered by leadership crisis.…”
Section: Literature Reviewmentioning
confidence: 99%
See 1 more Smart Citation
“…Williams (2014) on the effect of transparency on output volatility using data from 1980-2009 for OECD countries argue that it is the political and economic transparency that arises out of democracy that leads to a relative stability in output growth, given that the ability of a country to adjust and adapt to shocks, be they internal or external, is more pronounced in countries where the flows of information are better. Improving on the methodology of previous papers, Okolie et al (2021) uses the Marxist Instrumentalist framework of analysis and content analysis on democracydevelopment hypothesis in developing countries admits that the domestication of the core principles of liberal democracy is important for sustainable growth in Africa. To the authors, endogenous variables such as corruption, electoral malpractice, leadership deficit, ethno-regional power contestation, insecurity, weak government institutions and fragile civil society militate against development in developing countries and hence, attainment of expected development under democracy is hindered by leadership crisis.…”
Section: Literature Reviewmentioning
confidence: 99%
“…In addition, the positive effect of liberal democracy on macroeconomic instability shows that there are endogenous constraints to the capacity of liberal democracy in generating the expected development outcome in central Africa state. This perceived antagonism against liberal democracy-economic stability stems from the realities of most transitional states in Africa (see Okolie et al, 2021) and can be justify on the fact that the time limits associated with liberal democracy predispose democratic states mostly embark only on short-time economic policies considered to be unsustainable and limited in scope, which are introduced to increase the ruling party popularity and chances for the next election. In this case, macroeconomic policies which can stimulate economic stability and ensure efficient allocation of resources are sacrificed on the altar of reelection as evident by the lack of power alternation in member state of this region.…”
Section: Regional Economic Development Research Volume 3 Issue 2|2022...mentioning
confidence: 99%
“…Section 84 (12) stipulates that anyone holding a political office or an appointment must relinquish the position before they can be eligible to participate in the electoral process either as a candidate or as a delegate (Okoye et al, 2022). Sections 88 (2) to (7) of the Act establish the limitations on election expenditures, setting new top and lower limits of N5 billion and N5 million, respectively, depending on the positions sought (Okolie et al, 2021).…”
Section: The Electoral Act Of 2022mentioning
confidence: 99%
“…A separate study by Afolabi (2017) found a dearth of interest paid to the ethical, moral and philosophical dimensions of the contribution of elections as a fundamental element of the process of democratisation given the number of uprisings and coup de tats witnessed in both North Africa and the Sahel region. In their study, Okolie et al, (2021) reveal that the popular notion propagated by the western nations as regards expanding of liberal egalitarian values and principles as the remedy for economic success in the third world appears to be static for many nations. Also, the philosophy of ethno-linguistic propensity may crop in (Nkiru, Ikechukwu & Elijah, 2021).…”
Section: Introductionmentioning
confidence: 99%