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Yes Africa Can : Success Stories from a Dynamic Continent

Author

Listed:
  • Punam Chuhan-Pole
  • Manka Angwafo

Abstract

Over the past decade Sub-Saharan Africa has seen a remarkable turnaround in economic performance. After years of stagnation, economic growth has spurted gross domestic product (GDP) grew from an annual average rate of less than 2 percent in 1978-95 to nearly 6 percent over 2003-08. Inflation is half its level of the mid-1990s. Private capital flows have risen to $50 billion, exceeding foreign aid. Exports are growing, as is private sector activity. The number of democratic regimes has risen and the security situation has improved. The poverty rate is falling by 1 percentage point a year. Countries such as Ethiopia, Ghana, Mauritania, and Rwanda are on track to reach many of the millennium development goals. Nine African countries have achieved or are on track to achieve the target for extreme poverty. Among other encouraging trends are more fair and effective leadership, an improving business climate, increasing innovation, a more involved citizenry, and growing reliance on home-grown solutions. More and more, Africans are driving African development. This increased dynamism in Sub-Saharan Africa is evident across a broad swath of countries. It has created optimism that Africa's favorable development performance will be long lasting and that it could dramatically transform countries in the region. Along the way, the prevailing discourse on Africa's economic development has shifted from whether the region will develop to how the region is developing. After a review of the major recent economic developments in Africa, this overview describes the approach and methodology used in the study of African successes.

Suggested Citation

  • Punam Chuhan-Pole & Manka Angwafo, 2011. "Yes Africa Can : Success Stories from a Dynamic Continent," World Bank Publications - Books, The World Bank Group, number 2335.
  • Handle: RePEc:wbk:wbpubs:2335
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    References listed on IDEAS

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    Cited by:

    1. Ahmed, S. Amer & Cruz, Marcio & Go, Delfin S. & Maliszewska, Maryla & Osorio-Rodarte, Israel, 2014. "How significant is Africa's demographic dividend for its future growth and poverty reduction ?," Policy Research Working Paper Series 7134, The World Bank.
    2. Yashna Devi Beeharry & Girish Bekaroo & Chandradeo Bokhoree & Michael Robert Phillips, 2022. "Impacts of sea-level rise on coastal zones of Mauritius: insights following calculation of a coastal vulnerability index," Natural Hazards: Journal of the International Society for the Prevention and Mitigation of Natural Hazards, Springer;International Society for the Prevention and Mitigation of Natural Hazards, vol. 114(1), pages 27-55, October.
    3. S. Amer Ahmed & Marcio Cruz & Delfin S. Go & Maryla Maliszewska & Israel Osorio-Rodarte, 2016. "How Significant Is Sub-Saharan Africa's Demographic Dividend for Its Future Growth and Poverty Reduction?," Review of Development Economics, Wiley Blackwell, vol. 20(4), pages 762-793, November.
    4. Andrea Guariso & Marijke Verpoorten, 2018. "Aid, trade and the post-war recovery of the Rwandan coffee sector," Journal of Eastern African Studies, Taylor & Francis Journals, vol. 12(3), pages 552-574, July.
    5. Enyonam Canice Kudonoo & Victoria Tsedzah, 2015. "Human Capital Management: Taking Human Resources Management to the Next Level in Anglophone, West Africa," International Journal of Management Science and Business Administration, Inovatus Services Ltd., vol. 1(6), pages 19-30, May.
    6. Joseph Mawejje, 2024. "Government expenditure, informality, and economic growth: Evidence from Eastern and Southern African countries," African Development Review, African Development Bank, vol. 36(1), pages 125-138, March.
    7. Gill,Indermit S. & Revenga,Ana L. & Zeballos,Christian, 2016. "Grow, invest, insure : a game plan to end extreme poverty by 2030," Policy Research Working Paper Series 7892, The World Bank.

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