Level of Economic Development and National Policies in Mexico and Nigeria (1970-2018): A Comparative Analysis of Growth and Institutions

Abstract

The research compares Mexico and Nigeria's growth and development disparities using Sen and Collier's frameworks by examining various factors. It aims to propose policies on interest rates, FDI, external debt, government spending on health, education, and welfare. Results highlight positive impacts on Mexico's GNI from external debt, government spending, and FDI, and in Nigeria, all variables except interest rates positively affect GNI. Key recommendations include reducing Nigeria's debt by investing in bonds, using domestic debts and for both countries; enhancing welfare through Progresa, transparency in expenditure using online reporting, and infrastructure; boosting income and employment in Mexico with knowledge transfer, innovation, and transport improvements; and addressing violence by alleviating poverty through proposed subsidy programs and anti-corruption measures.