Preprint Article Version 1 Preserved in Portico This version is not peer-reviewed

The Moderating Effects of Institutional Qualities and Energy Use on the Economic Output

Version 1 : Received: 26 December 2020 / Approved: 29 December 2020 / Online: 29 December 2020 (07:44:08 CET)

How to cite: Zakari, A.; Toplak, J. The Moderating Effects of Institutional Qualities and Energy Use on the Economic Output. Preprints 2020, 2020120713 (doi: 10.20944/preprints202012.0713.v1). Zakari, A.; Toplak, J. The Moderating Effects of Institutional Qualities and Energy Use on the Economic Output. Preprints 2020, 2020120713 (doi: 10.20944/preprints202012.0713.v1).

Abstract

Energy and institutional quality are two factors that determine economic output, but these two factors are often neglected in the search for economic output. Therefore, this study examines the relative importance of energy use and its interaction with institutional quality for economic output. We employ a robust econometric estimation technique on a panel sample of 21 African countries between 2002-2019. Our results show that energy use is significant and negatively related to economic output while moderating terms of institutional quality are significantly associated with economic output, but the direction of the association depends on the specific quality. We find the moderating term control of corruption and government effectiveness to be negative and significantly associated with economic output, whilst political stability, regulatory quality, rule of laws, voice, and accountability positively impact. Our results imply that improved economic output is possible when there are specific institutional strategies.

Subject Areas

Economic output; Energy use; Institutional quality; cultural diversity; FMOLS

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