“…This process, in which interest groups expend resources in an effort to influence policy outcomes, is called rent seeking (Tullock, 1967;Krueger, 1974;Tullock, 1993;Nitzan, 1994). Several studies have shown that rent seeking has been one of the most important constraints to development in postindependence Africa (Mbaku, 1991d(Mbaku, , 1991b(Mbaku, , 1992(Mbaku, , 1994a(Mbaku, , 1994bMbaku and Paul, 1989;Kimenyi, 1989). Excessive regulation of private exchange by the state encouraged and advanced opportunism, including rent seeking.…”