Characteristics and Behaviour of African Factor Markets and Market Institutions and Their Consequences for Economic Growth.

This paper provides a detailed characterisation of the structure and behaviour of African factor markets and the institutions that impact on their operations. It shows that the African factor markets are imperfect and inefficient, thus constraining economic growth. The paper posits that for the current reform programmes to succeed, policy that enhances the efficiency and competitiveness of the African factor markets must be put in place. JEL Classification: G1, J3, J4, J5, J6, O1. Keywords: Labour Markets, Financial Markets, Economic Growth, Africa. BIO-DATA Adeola F. Adenikinju is a Fellow at the Centre For Econometric and Allied Research (CEAR) and a lecturer in the Department of Economics, University of Ibadan, Ibadan, Nigeria. Dr. Adenikinju is also a member of the African Economic Research Consortium (AERC), Nairobi, Kenya. He participated in the preparation of Nigeria's first Perspective Plan. His areas of research include Economic Modelling, Industrial and Labour Economics,..