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Author: Simon Johnson
Publisher: International Monetary Fund
ISBN:
Category : Business & Economics
Languages : en
Pages : 64
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Book Description
A dozen countries had weak institutions in 1960 and yet sustained high rates of growth subsequently. We use data on their characteristics early in the growth process to create benchmarks with which to evaluate potential constraints on sustained growth for sub-Saharan Africa. This analysis suggests that what are usually regarded as first-order problems-broad institutions, macroeconomic stability, trade openness, education, and inequality-may not now be binding constraints in Africa, although the extent of ill-health, internal conflict, and societal fractionalization do stand out as problems in contemporary Africa. A key question is to what extent Africa can rely on manufactured exports as a mode of "escape from underdevelopment," a strategy successfully deployed by almost all the benchmark countries. The benchmarking comparison specifically raises two key concerns as far as a development strategy based on expanding exports of manufactures is concerned: micro-level institutions that affect the costs of exporting, and the level of the real exchange rate-especially the need to avoid overvaluation.
Author: Simon Johnson
Publisher: International Monetary Fund
ISBN:
Category : Business & Economics
Languages : en
Pages : 64
Get Book Here
Book Description
A dozen countries had weak institutions in 1960 and yet sustained high rates of growth subsequently. We use data on their characteristics early in the growth process to create benchmarks with which to evaluate potential constraints on sustained growth for sub-Saharan Africa. This analysis suggests that what are usually regarded as first-order problems-broad institutions, macroeconomic stability, trade openness, education, and inequality-may not now be binding constraints in Africa, although the extent of ill-health, internal conflict, and societal fractionalization do stand out as problems in contemporary Africa. A key question is to what extent Africa can rely on manufactured exports as a mode of "escape from underdevelopment," a strategy successfully deployed by almost all the benchmark countries. The benchmarking comparison specifically raises two key concerns as far as a development strategy based on expanding exports of manufactures is concerned: micro-level institutions that affect the costs of exporting, and the level of the real exchange rate-especially the need to avoid overvaluation.
Author: Ms.Catherine McAuliffe
Publisher: International Monetary Fund
ISBN: 1475586310
Category : Business & Economics
Languages : en
Pages : 55
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Book Description
The East African Community (EAC) has been among the fastest growing regions in sub-Saharan Africa in the past decade or so. Nonetheless, the recent growth path will not be enough to achieve middle-income status and substantial poverty reduction by the end of the decade—the ambition of most countries in the region. This paper builds on methodologies established in the growth literature to identify a group of countries that achieved growth accelerations and sustained growth to use as benchmarks to evaluate the prospects, and potential constraints, for EAC countries to translate their recent growth upturn into sustained high growth. We find that EAC countries compare favorably to the group of sustained growth countries—macroeconomic and government stability, favorable business climate, and strong institutions—but important differences remain. EAC countries have a smaller share of exports, lower degree of financial deepening, lower levels of domestic savings, higher reliance on donor aid, and limited physical infrastructure and human capital. Policy choices to address some of these shortcomings could make a difference in whether the EAC follows the path of sustained growth or follows other countries where growth upturns later fizzled out.
Author: Horman Chitonge
Publisher: Routledge
ISBN: 1317575296
Category : Business & Economics
Languages : en
Pages : 209
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Book Description
In recent years, Africa has undergone the longest period of sustained economic growth in the continent’s history, drawing the attention of the international media and academics alike. This book analyses the Africa Rising narrative from multidisciplinary perspectives, offering a critical assessment of the explanations given for the poor economic growth and development performance in Africa prior to the millennium and the dramatic shift towards the new Africa. Bringing in perspectives from African intellectuals and scholars, many of whom have previously been overlooked in this debate, the book examines the construction of Africa’s economic growth and development portraits over the years. It looks at two institutions that play a vital role in African development, providing a detailed explanation of how the World Bank and the IMF have interpreted and dealt with the African challenges and experiences. The insightful analysis reveals that if Africa is rising, only 20-30 per cent of Africans are aboard the rising ship, and the main challenge facing the continent today is to bring on board the majority of Africans who have been excluded from growth. This book makes the complex, and sometimes confusing debates on Africa’s economic growth experience more accessible to a wide range of readers interested in the Africa story. It is essential reading for students and researchers in African Studies, and will be of great interest to scholars in Development Studies, Political Economy, and Development Economics.
Author: Jennifer G. Cooke
Publisher: Rowman & Littlefield
ISBN: 1442228482
Category : Political Science
Languages : en
Pages : 25
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Book Description
Many of Africa’s economies are at a crossroads, with an unprecedented opportunity for sustained growth, structural change, and accelerated development. Each will face a unique set of economic and political circumstances, but key to the success of all will be building critically needed infrastructure, deepening regional integration, and building a skilled workforce. Across these three challenges there are new possibilities for corporate and public actors to work in partnership to overcome barriers to investment and structural transformation. This report highlights examples of progress and positive collaboration and identifies areas where African governments can do more to make the most of current opportunities.
Author: World Bank
Publisher:
ISBN:
Category : Business & Economics
Languages : en
Pages : 324
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Book Description
3. Investing in people.
Author: Evelyn F. Wamboye
Publisher: Springer Nature
ISBN: 3030755568
Category : Business & Economics
Languages : en
Pages : 1142
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Book Description
This handbook provides a reference resource to showcase insightful and nuanced perspectives on Africa’s agriculture, industry, services, and manufacturing sectors; factors affecting the sectors’ competitiveness; and the sectors’ contribution to employment, economic growth, and sustainable development. It also addresses the potential benefits that the sectors could harness from the planned Continental Free Trade Area (CFTA), and in particular how CFTA could increase the efficiency and competitiveness of these sectors. This book provides evidence-based holistic analyses of the past and current state of Africa’s economic sectors, with a strong emphasis on tangible and specific policy recommendations for the purpose of enhancing future economic growth, employment, and sustainable development of the continent. It also assesses the impact of the first-ever Continental Free Trade Area in Africa, and its potential implications for Africa’s integration into regional and global economy and competitiveness relative to other fast developing economies (such as those in Asia). This handbook gives an in-depth analysis of fundamental domestic factors that have relevance on the sectors’ expansion and growth and their contributions to employment, economic growth, and sustainable development in Africa with differential effects across the continent.
Author: Kempe Ronald Hope
Publisher: BRILL
ISBN: 9004491686
Category : Social Science
Languages : en
Pages : 226
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Book Description
This volume deals with crisis and renewal in African development policy and management. It digs deep into, takes stock of, and thoroughly analyzes the nature, impact, and future of development policy and management on the continent. It demonstrates the failure of post-independence policy and management in most of Africa, traces the emergence and results of reform measures, and advocates the lessons of success for the rest of Africa derived from Botswana’s approach to sustainable development and its achievement of economic prosperity and the maintenance of political stability and good governance. It concludes, rather optimistically, that the prospects for sustainable development are much better now than they have ever been before with the 21st century likely to be hailed as ‘The African Century’ – bringing with it a durable peace and sustainable growth.
Author: Kaleb G. Abreha
Publisher: World Bank Publications
ISBN: 1464817219
Category : Business & Economics
Languages : en
Pages : 266
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Book Description
Industrialization drives the sustained growth in jobs and productivity that marks the developmental take-off of most developed economies. Yet, academics and policy makers have questioned the role of manufacturing in development for late industrializers, especially ith more job creation. Industrialization drives the sustained growth in jobs and productivity that marks the developmental take-off of most developed economies. Yet, academics and policy makers have questioned the role of manufacturing in development for late industrializers, especially in view of rapid advancements in technologies and restructuring of international trade.Concurrently, industrialization and structural transformation are integral to the African Union’s Agenda 2063 and the development strategies of several countries in Sub-Saharan Africa (SSA). Given this renewed interest in industrialization across the region, a central question is not whether SSA countries should pursue industrialization as a potential path to sustainable growth but how to promote the prospects of industrialization. Industrialization in Sub-Saharan Africa: Seizing Opportunities in Global Value Chains addresses this question by reassessing the prospects for industrialization in SSA countries through integration into global value chains. It also examines the role of policy in enhancing these prospects. The main findings indicate that • SSA has not experienced premature deindustrialization; the region has witnessed substantial growth in manufacturing jobs despite a lack of improvement in the contribution of manufacturing value-added to GDP. • The region’s integration into manufacturing global value chains is reasonably high but it is dominated by exports of primary products and engagement in low-skill tasks. • Global value chain integration has led to job growth, and backward integration is associated with more job creation. The report emphasizes the role of policy in maintaining a competitive market environment, promoting productivity growth, and investing in skills development and enabling sectors such as infrastructure and finance. Policy makers can strengthen the global value chain linkages by (1) increasing the value-added content of current exports, (2) upgrading into high-skill tasks, and (3) creating comparative advantages in knowledge-intensive industries.
Author: Aguibou Y. Yansané
Publisher: Praeger
ISBN:
Category : Business & Economics
Languages : en
Pages : 392
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Book Description
Nine world-class experts on the African economy share their knowledge regarding the potential for real improvement and growth in food production and the development of grassroots economies that will benefit citizens as well as governments. Economic models that assume good incentives, infrastructure, entrepreneurial skills, and a level trading field cannot be invoked. Structural adjustment in African countries has led to unintended consequences because the common people and the small farmers have not been consulted. Domestic food production, the crux of Africa's economic problem, has been downgraded because of the emphasis on export crops. To develop self-sufficiency and food security, African nations must mobilize domestic resources, improve the human resource capacity, and strengthen their scientific and technological bases. They must also cooperate in integration schemes rather than compete for the available Western aid.
Author: Deon Filmer
Publisher: World Bank Publications
ISBN: 146480107X
Category : Business & Economics
Languages : en
Pages : 283
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Book Description
"The series is sponsored by the Agence Francaise de Developpement and the World Bank."
