Influence of Political Dynasty on Economic Growth of Developing Countries: A Case of African Countries
Keywords:
Political Dynasty, Economic Growth, Developing Countries and Africa.Abstract
The political dynasty is a well-established tradition in developing countries and most particularly in Africa, where many politicians can trace their political lineage back several generation. There are some unbroken representation extending back to the foundation of the state. Political dynasties are present in many African countries, yet we have very limited evidence on the economic consequences of dynastic rule. Economic theory makes ambiguous predictions about political dynasties: on the one hand, dynasts may behave like “stationary bandits†and invest more in their constituencies, and use their clout to direct state resources to their localities. On the other hand, dynasts may have particularly strong incentives to foster long-term clientelistic relationships, which may chill political competition and worsen governance. The paper explores the grip on power these families have, and how they influence economic growth; the pressures on family members to continue the traditions of their forefathers; the intense grip on power and the impact of these dynasties on the economic growth. The study adopted a literature review methodology. The study concluded that dynasties are able to sustain their reign because they are able to access: money, machinery, media, and alliances/mergers. Often, the responsibility of the family members is to safeguard the elite’s political and economic interests and, most importantly, the extension of their rule. Political dynasties affect the quality of government policies as dynastic politicians have incentives to implement policies that will increase their advantage and guarantee the perpetuation of power. However some dynasties have the advantage of passing down dynastic tradition, ruling oligarchs’ experience, political and economic resources, and vast array of networks including their names to their children and grandchildren that would carry on their legacies. The effect of such hereditary notion of politics can be positive especially when the traditions and values inherited are good. The study recommended on to championing for social and economic development where political dynasties exist and strengthening of institutions.
Keywords: Political Dynasty, Economic Growth, Developing Countries and Africa.
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