How to manage the relationship between democracy and economic development in Nigeria

摘要

The paper analyzes empirically, in Nigeria’s case, the biunivoque relationship between democratization and economic development. The analysis is based on the construction of an Unrestricted Vector Autoregressive Model (Unrestricted VAR), in the matrix form. For a better control of the results, regarding governance’s factors, we have introduced a third variable: The political regime durability. The results show us that, for Nigeria’s case, to ensure a higher level of economic development, the political regime must be democratic and the durability of the political regime reasonable. On the other hand, only high economic development, with very low political regime durability, can ensure a solid democracy. Otherwise, there is a very sensitive relationship between democracy, development and the political regime durability.