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Adjustment and Growth in Sub-Saharan Africa

Author

Listed:
  • Mr. Dhaneshwar Ghura
  • Mr. Anupam Basu
  • Mr. Anthony E Calamitsis

Abstract

This paper analyzes the factors affecting economic growth in sub-Saharan Africa, using data for 1981–97. The results indicate that per capita real GDP growth is positively influenced by economic policies that raise the ratio of private investment to GDP, promote human capital development, lower the ratio of the budget deficit to GDP, safeguard external competitiveness, and stimulate export volume growth. The favorable evolution of these variables played an important role in the region’s apparent postreform recovery of 1995–97. The paper also discusses a policy framework to promote sustainable economic growth and reduce poverty in sub-Saharan Africa

Suggested Citation

  • Mr. Dhaneshwar Ghura & Mr. Anupam Basu & Mr. Anthony E Calamitsis, 1999. "Adjustment and Growth in Sub-Saharan Africa," IMF Working Papers 1999/051, International Monetary Fund.
    • Handle: RePEc:imf:imfwpa:1999/051
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    Citations

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    Cited by:

    1. Paul Cashin & Catherine Pattillo, 2006. "African terms of trade and the commodity terms of trade: close cousins or distant relatives?," Applied Economics, Taylor & Francis Journals, vol. 38(8), pages 845-859.
    2. Ogundari, Kolawole & Awokuse, Titus, 2018. "Human capital contribution to economic growth in Sub-Saharan Africa: Does health status matter more than education?," Economic Analysis and Policy, Elsevier, vol. 58(C), pages 131-140.
    3. Szirmai, Adam & Yamfwa, Francis & Lwamba, Chibwe, 2002. "Zambian manufacturing performance in comparative perspective," GGDC Research Memorandum 200253, Groningen Growth and Development Centre, University of Groningen.
    4. Norman Gemmell, 2001. "Fiscal Policy in a Growth Framework," WIDER Working Paper Series DP2001-84, World Institute for Development Economic Research (UNU-WIDER).
    5. Mr. Saleh M. Nsouli & Ms. Françoise Le Gall, 2001. "The New International Financial Architecture and Africa," IMF Working Papers 2001/130, International Monetary Fund.
    6. White, Howard & Leavy, Jennifer, 2000. "Economic Reform and Economic Performance: Evidence from 20 Developing Countries," MPRA Paper 6594, University Library of Munich, Germany.
    7. Mr. Brou E Aka & Mr. Bernardin Akitoby & Mr. Amor Tahari & Mr. Dhaneshwar Ghura, 2004. "Sources of Growth in Sub-Saharan Africa," IMF Working Papers 2004/176, International Monetary Fund.
    8. Clas Wihlborg, 2002. "Insolvency and Debt Recovery Procedures in Economic Development: An Overview of African Law," WIDER Working Paper Series DP2002-27, World Institute for Development Economic Research (UNU-WIDER).
    9. Mr. Sanjeev Gupta & Ms. Catherine A Pattillo & Mr. Kevin J Carey, 2005. "Sustaining Growth Accelerations and Pro-Poor Growth in Africa," IMF Working Papers 2005/195, International Monetary Fund.
    10. International Monetary Fund, 2008. "Benin: Selected Issues and Statistical Appendix," IMF Staff Country Reports 2008/084, International Monetary Fund.
    11. Devarajan, Shantayanan & Easterley, William R. & Pack, Howard, 2001. "Is investment in Africa too low or too high : macro and micro evidence," Policy Research Working Paper Series 2519, The World Bank.
    12. Babajide Fowowe, 2011. "Financial Sector Reforms And Private Investment In Sub-Saharan African Countries," Journal of Economic Development, Chung-Ang Unviersity, Department of Economics, vol. 36(3), pages 79-97, September.
    13. repec:dgr:rugggd:200253 is not listed on IDEAS
    14. Matthias Cinyabuguma & Mr. Bernardin Akitoby, 2004. "Sources of Growth in the Democratic Republic of the Congo: A Cointegration Approach," IMF Working Papers 2004/114, International Monetary Fund.
    15. Guillaume, Dominique M. & Stasavage, David, 2000. "Improving Policy Credibility: Is There a Case for African Monetary Unions?," World Development, Elsevier, vol. 28(8), pages 1391-1407, August.
    16. Berhanu Nega & Geoffrey Schneider, 2016. "Africa Rising? Short-Term Growth vs. Deep Institutional Concerns," Forum for Social Economics, Taylor & Francis Journals, vol. 45(4), pages 283-308, October.
    17. Issouf Samaké, 2008. "Investment and Growth Dynamics: An Empirical Assessment Applied to Benin," IMF Working Papers 2008/120, International Monetary Fund.
    18. Elbadawi, Ibrahim A. & Kaltani, Linda & Soto, Raimundo, 2012. "Aid, Real Exchange Rate Misalignment, and Economic Growth in Sub-Saharan Africa," World Development, Elsevier, vol. 40(4), pages 681-700.

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