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Author: Hippolyte Fofack
Publisher: World Bank Publications
ISBN:
Category :
Languages : en
Pages : 34
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Book Description
Since the industrial revolution, advances in science and technology have continuously accounted for most of the growth and wealth accumulation in leading industrialized economies. In recent years, the contribution of technological progress to growth and welfare improvement has increased even further, especially with the globalization process which has been characterized by exponential growth in exports of manufactured goods. This paper establishes the existence of a technology trap in Sub-Saharan Africa. It shows that the widening income and welfare gap between Sub-Saharan Africa and the rest of world is largely accounted for by the technology trap responsible for the poverty trap. This result is supported by empirical evidence which suggests that if countries in Sub-Saharan Africa were using the same level of technology enjoyed by industrialized countries income levels in Sub-Saharan Africa would be significantly higher. The result is robust, even after controlling for institutional, macroeconomic instability and volatility factors. Consistent with standard one-sector neoclassical growth models, this suggests that uniform convergence to a worldwide technology frontier may lead to income convergence in the spherical space. Overcoming the technology trap in Sub-Saharan Africa may therefore be essential to achieving the Millennium Development Goals and evolving toward global convergence in the process of economic development.
Author: Hippolyte Fofack
Publisher: World Bank Publications
ISBN:
Category :
Languages : en
Pages : 34
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Book Description
Since the industrial revolution, advances in science and technology have continuously accounted for most of the growth and wealth accumulation in leading industrialized economies. In recent years, the contribution of technological progress to growth and welfare improvement has increased even further, especially with the globalization process which has been characterized by exponential growth in exports of manufactured goods. This paper establishes the existence of a technology trap in Sub-Saharan Africa. It shows that the widening income and welfare gap between Sub-Saharan Africa and the rest of world is largely accounted for by the technology trap responsible for the poverty trap. This result is supported by empirical evidence which suggests that if countries in Sub-Saharan Africa were using the same level of technology enjoyed by industrialized countries income levels in Sub-Saharan Africa would be significantly higher. The result is robust, even after controlling for institutional, macroeconomic instability and volatility factors. Consistent with standard one-sector neoclassical growth models, this suggests that uniform convergence to a worldwide technology frontier may lead to income convergence in the spherical space. Overcoming the technology trap in Sub-Saharan Africa may therefore be essential to achieving the Millennium Development Goals and evolving toward global convergence in the process of economic development.
Author: Hippolyte Fofack
Publisher:
ISBN:
Category :
Languages : en
Pages : 34
Get Book
Book Description
Since the industrial revolution, advances in science and technology have continuously accounted for most of the growth and wealth accumulation in leading industrialized economies. In recent years, the contribution of technological progress to growth and welfare improvement has increased even further, especially with the globalization process which has been characterized by exponential growth in exports of manufactured goods. This paper establishes the existence of a technology trap in Sub-Saharan Africa. It shows that the widening income and welfare gap between Sub-Saharan Africa and the rest of world is largely accounted for by the technology trap responsible for the poverty trap. This result is supported by empirical evidence which suggests that if countries in Sub-Saharan Africa were using the same level of technology enjoyed by industrialized countries income levels in Sub-Saharan Africa would be significantly higher. The result is robust, even after controlling for institutional, macroeconomic instability and volatility factors. Consistent with standard one-sector neoclassical growth models, this suggests that uniform convergence to a worldwide technology frontier may lead to income convergence in the spherical space. Overcoming the technology trap in Sub-Saharan Africa may therefore be essential to achieving the Millennium Development Goals and evolving toward global convergence in the process of economic development.
Author: Aidar Abdychev
Publisher: International Monetary Fund
ISBN: 1498306810
Category : Business & Economics
Languages : en
Pages : 59
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Book Description
Far-reaching changes in technology, climate, and global economic integration are transforming the world of work in ways that we do not yet fully understand. Will the swift technological advances of the Fourth Industrial Revolution raise the standards of living for everyone? Or will robots massively displace workers leading to a jobless future where only a few benefit from the fruits of innovation? Will mitigation efforts be able to cushion the adverse effects of climate change, including food shortages and mass migration, which would place extra pressure on urban labor markets? Will countries continue to integrate commercially and financially, fostering growth and employment? Or will trade wars become a norm in a world increasingly fragmented and inward-looking? In sub-Saharan Africa, these uncertainties meet a dramatic increase in population and a rapid expansion in the labor force, which is becoming increasingly urban.
Author: Howard White
Publisher: World Bank Publications
ISBN: 9780821348673
Category : Business & Economics
Languages : en
Pages : 172
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Book Description
This explores the complex nature of poverty in Africa. It identifies its political and social causes and assesses the impact of recent economic growth on the welfare of poor people. To permanently reduce poverty, it calls for realistic, home-grown policy initiative, governmental commitment, a realignment of the donor community's role, and the development of institutional structures, such as poverty monitoring systems, that can hold the governments accountable.
Author: Christopher B. Barrett
Publisher: University of Chicago Press
ISBN: 022657430X
Category : Business & Economics
Languages : en
Pages : 425
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Book Description
What circumstances or behaviors turn poverty into a cycle that perpetuates across generations? The answer to this question carries especially important implications for the design and evaluation of policies and projects intended to reduce poverty. Yet a major challenge analysts and policymakers face in understanding poverty traps is the sheer number of mechanisms—not just financial, but also environmental, physical, and psychological—that may contribute to the persistence of poverty all over the world. The research in this volume explores the hypothesis that poverty is self-reinforcing because the equilibrium behaviors of the poor perpetuate low standards of living. Contributions explore the dynamic, complex processes by which households accumulate assets and increase their productivity and earnings potential, as well as the conditions under which some individuals, groups, and economies struggle to escape poverty. Investigating the full range of phenomena that combine to generate poverty traps—gleaned from behavioral, health, and resource economics as well as the sociology, psychology, and environmental literatures—chapters in this volume also present new evidence that highlights both the insights and the limits of a poverty trap lens. The framework introduced in this volume provides a robust platform for studying well-being dynamics in developing economies.
Author: Mr.Amadou N Sy
Publisher: International Monetary Fund
ISBN: 1484385667
Category : Business & Economics
Languages : en
Pages : 61
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Book Description
FinTech is a major force shaping the structure of the financial industry in sub-Saharan Africa. New technologies are being developed and implemented in sub-Saharan Africa with the potential to change the competitive landscape in the financial industry. While it raises concerns on the emergence of vulnerabilities, FinTech challenges traditional structures and creates efficiency gains by opening up the financial services value chain. Today, FinTech is emerging as a technological enabler in the region, improving financial inclusion and serving as a catalyst for the emergence of innovations in other sectors, such as agriculture and infrastructure.
Author: Mr.Dhaneshwar Ghura
Publisher: International Monetary Fund
ISBN: 1451855753
Category : Business & Economics
Languages : en
Pages : 32
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Book Description
The paper investigates empirically the determinants of economic growth for a large sample of sub-Saharan African countries during 1981-92. The results indicate that (i) an increase in private investment has a relatively large positive impact on per capita growth; (ii) growth is stimulated by public policies that lower the budget deficit in relation to GDP (without reducing government investment), reduce the rate of inflation, maintain external competitiveness, promote structural reforms, encourage human capital development, and slow population growth; and (iii) convergence of per capita income occurs after controlling for human capital development and public policies.
Author: Paul Collier
Publisher: Oxford University Press, USA
ISBN: 0195374630
Category : Business & Economics
Languages : en
Pages : 225
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Book Description
The Bottom Billion is an elegant and impassioned synthesis from one of the world's leading experts on Africa and poverty. It was hailed as "the best non-fiction book so far this year" by Nicholas Kristoff of The New York Times.
Author: Roberto Moro Visconti
Publisher: ibidem-Verlag / ibidem Press
ISBN: 3838265629
Category : Business & Economics
Languages : en
Pages : 644
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Book Description
This ground-breaking book shows how innovative microfinance solutions can help billions to avoid ‚poverty traps‘ and escape atavistic misery. While the success of microfinance has globally exceeded even the wildest expectations, there are still many obstacles – above all the lack of proper business planning on the side of the borrowers. Here Moro Visconti‘s important book comes to aid, offering bottom-up development strategies for micro-credit-driven startups and beyond. His forceful analysis of poverty traps and the practical guidelines given (including business plan templates as Excel sheets) are designed to help practitioners and analysts alike in understanding and reaching the true potential of microfinance.
Author: Dr Sheereen Banon Fauzel
Publisher: Archers & Elevators Publishing House
ISBN: 9386501600
Category : Antiques & Collectibles
Languages : en
Pages : 162
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Book Description
