Kurumsal Kalite, Doğrudan Yabancı Yatırımlar, Enflasyon ve Sahra Altı Afrika’da Ekonomik Büyüme

The paper examines how the inflation, institutional quality and foreign direct investment influence the economic growth of six chosen Sub-Saharan African economies namely Nigeria, Ghana, Kenya, Tanzania, South Africa, and Zimbabwe, between the years 1996 and 2023. Panel data analysis using fixed effects and random effects models is used in the study to investigate how indicators of governance namely government effectiveness, rule of law, and regulatory quality together with FDI inflows and inflation affect the annual GDP growth. The Hausman test provides support to the fact that the fixed effects model can be reliably estimated. The results show that economic growth is positively related to the rule of law and the quality of regulations though their impacts are weak usually in the short term. The negative influence of government effectiveness occurs under some specifications, which indicate the problems with the implementation of the policies and delivery of the public services. FDI has a positive, but statistically insignificant effect showing that investment can never lead to growth without other forms of institutional and macroeconomic reforms. The impact of inflation on growth is very devastating, hence the need to ensure price stability. The research overcomes that governance and institutional quality are essential to spur economic growth in Sub-Saharan Africa, although their effects are generally indirect and dependent on other more structural and macroeconomic determinants. According to the findings, the study proposes institutional reinforcements, enhancements in government effectiveness, attracting FDI by enabling policies and sustaining macroeconomic stability to achieve sustainable regional economic growth.