59. TRADE LIBERALIZATION, INSTITUTIONS AND ECONOMIC GROWTH IN SELECTED SUB-SAHARAN AFRICAN COUNTRIES.
BACKGROUND OF THE STUDY
According to North (1991), institutions are the humanly devised constraints that structure and control political, economic and social interactions amongst various economic agents. They consist of both informal constraints (sanctions, taboos, customs, traditions and codes of conduct); and formal rules (constitutions, laws, property rights). They are a set of economic, political and social factors, rules, beliefs, values and organizations that jointly motivate...