Substituting for the state: Institutions and industrial development in eastern Nigeria |
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| Institution: | 1. Department of Mechanical and Aerospace Engineering, New York University Tandon School of Engineering, Brooklyn, NY 11201, USA;2. Department of Mathematics and Statistics and Neuroscience Institute, Georgia State University, Atlanta, GA 30303, USA;1. Department of Surgery, Hospital Universitario Nuestra Sra. De Candelaria, S/C de Tenerife, Spain;2. Investigation Unit, Hospital Universitario Nuestra Sra. De Candelaria, S/C de Tenerife, Spain;3. Department of Radiology/Hospital Universitario Nuestra Sra. De Candelaria, S/C de Tenerife, Spain;4. Department of Hepatology/Hospital Universitario Nuestra Sra. De Candelaria, S/C de Tenerife, Spain;5. Department of Vascular Radiology, Crta. El Rosario, no. 145, 38010, S/C de Tenerife, Spain;6. Department of Anesthesiology/Hospital Universitario Nuestra Sra. De Candelaria, S/C de Tenerife, Spain;7. Department of Pathology/Hospital Universitario Nuestra Sra. De Candelaria, S/C de Tenerife, Spain;1. Morsani College of Medicine, University of South Florida, Tampa Florida;2. Department of Breast Oncology, Comprehensive Breast Program, H. Lee Moffitt Cancer Center and Research Institute, Tampa, Florida;3. Department of Oncologic Science, University of South Florida, Tampa, Florida;4. Department of Surgery, University of South Florida, Tampa, Florida;5. Division of Biostatistics, Department of Biostatics, H. Lee Moffitt Cancer Center and Research Institute, Tampa, Florida;6. Women''s Pathology Consultants, Ruffolo Hooper and Associates, Tampa, Florida |
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| Abstract: | This article examines the recent dynamic industrialization experience in one town, Nnewi, part of eastern Nigeria's “industrial axis.” The article suggests that insights from institutional economics can be used to help explain the case of dynamic industrialization in an unpromising economic environment. Nnewi industrialists have successfully filled the gaps left by failures of both the market and the state. In particular, by using both international linkages and alternative, culturally-based networks, they have reduced information uncertainties and principal-agent problems, lowering the transaction costs faced by other would-be industrialists in Nigeria. |
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