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Impressive Growth in Africa Under Peace and Market Reforms

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  • Gonzalo Salinas
  • Cheikh Gueye
  • Olessia Korbut

Abstract

Economic stagnation in sub-Saharan Africa (SSA) led a number of economists to question the region's ability to attain sustained economic growth, some arguing for the need to shift away from primary exports. Yet, we find that low growth has not been common to all SSA countries and that those that maintained political stability and significantly liberalised their economies experienced high and relatively stable growth in income per capita, even as high generally as the growth seen in ASEAN-5 countries, while exporting mainly primary products. Our evidence, furthermore, does not support the argument that countries achieved political stability and liberalised their economies only when they already had good growth performance or strong growth determinants.

Suggested Citation

  • Gonzalo Salinas & Cheikh Gueye & Olessia Korbut, 2015. "Impressive Growth in Africa Under Peace and Market Reforms," Journal of African Economies, Centre for the Study of African Economies, vol. 24(1), pages 101-127.
    • Handle: RePEc:oup:jafrec:v:24:y:2015:i:1:p:101-127.
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    File URL: http://hdl.handle.net/10.1093/jae/eju025
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    Cited by:

    1. Augustin Kwasi Fosu & Dede Woade Gafa, 2020. "Economic Neoliberalism and African Development," Working Papers 202074, University of Pretoria, Department of Economics.
    2. Folasade Bosede Adegboye & Olumide Sunday Adesina & Felicia Omowunmi Olokoyo & Stephen Aanu Ojeka & Victoria Abosede Akinjare, 2021. "The Impact of Trade Openness and Foreign Direct Investment on Economic Welfare in sub-Saharan Africa," International Journal of Financial Research, International Journal of Financial Research, Sciedu Press, vol. 12(2), pages 389-400, April.

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