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The Role Of Educated Leaders In Economic Growth And Development: Evidence From Central African Republic And Singapore

Author

Listed:
  • OLUWOLE OWOYE

    (Department of Social Sciences/Economics, Western Connecticut State University, Danbury, CT 06810, USA)

  • OLUGBENGA A. ONAFOWORA

    (Department of Economics, Susquehanna University, Selinsgrove, PA 17870, USA)

Abstract

This paper postulates that highly educated leaders matter in economic growth and development and that this is one of the fundamental causes of the differences in income between countries. To verify this assertion, we examine Central African Republic and Singapore within the neoclassical growth model that incorporates educational attainments of leaders as the functionally relevant explanatory variable. We found the mean years of schooling of educated leaders to be statistically and significantly different in both countries, but more importantly, educational attainments of leaders have a positive and statistically significant effect on economic growth in Singapore, but negative in Central African Republic.

Suggested Citation

  • Oluwole Owoye & Olugbenga A. Onafowora, 2020. "The Role Of Educated Leaders In Economic Growth And Development: Evidence From Central African Republic And Singapore," The Singapore Economic Review (SER), World Scientific Publishing Co. Pte. Ltd., vol. 65(01), pages 81-102, March.
    • Handle: RePEc:wsi:serxxx:v:65:y:2020:i:01:n:s0217590818500364
    DOI: 10.1142/S0217590818500364
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    Cited by:

    1. Sanders, Zagabe, 2023. "Impact of leadership on a country’s economic growth," MPRA Paper 118181, University Library of Munich, Germany, revised 01 Jun 2023.
    2. Owoye, Oluwole & Onafowora, Olugbenga A., 2022. "Assessing the Socio-Economic and Political Outcomes of the Arab Spring in Arab League Countries," Economia Internazionale / International Economics, Camera di Commercio Industria Artigianato Agricoltura di Genova, vol. 75(3), pages 363-390.
    3. James Ang, 2020. "Editorial: Special Issue On Economic Growth," The Singapore Economic Review (SER), World Scientific Publishing Co. Pte. Ltd., vol. 65(01), pages 1-2, March.

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