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Sectoral Performance In The African Economy – Some Issues And Trends

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  • Rena, Ravinder

Abstract

African economies are facing the critical challenge of raising the rate of GDP growth and sustaining high growth rates and thus meet the Millennium Development Goals (MDGs). The performance of agriculture is more paradoxical and African exports of industrial goods are dominated by mining and crude oil. The financial systems remain largely underdeveloped both in terms of the size and range of financial instruments and services offered. This article explores the recent growth performance both at the continental and subregional level. It discusses disparities in growth performance and the factors behind the observed disparities across countries and subregions. It also discusses developments at the sectoral level and progress and challenges in human development, closing with a brief exposition of the prospects for 2007. The paper further analyses the HIV/AIDS in the continent and its impact on the economy.

Suggested Citation

  • Rena, Ravinder, 2007. "Sectoral Performance In The African Economy – Some Issues And Trends," MPRA Paper 11089, University Library of Munich, Germany, revised 2007.
    • Handle: RePEc:pra:mprapa:11089
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    File URL: https://mpra.ub.uni-muenchen.de/11089/1/MPRA_paper_11089.pdf
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    References listed on IDEAS

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    1. Berthelemy, Jean-claude & Soderling, Ludvig, 2001. "The Role of Capital Accumulation, Adjustment and Structural Change for Economic Take-Off: Empirical Evidence from African Growth Episodes," World Development, Elsevier, vol. 29(2), pages 323-343, February.
    2. Robert Pollin & Gerald Epstein & James Heintz & Léonce Ndikumana, 2006. "An Employment-targeted Economic Programme for South Africa," Research Report 1, International Policy Centre for Inclusive Growth.
    3. World Bank, 2007. "World Development Indicators 2007," World Bank Publications - Books, The World Bank Group, number 8150.
    4. Léonce Ndikumana, 2001. "Financial Markets and Economic Development in Africa," Working Papers wp17, Political Economy Research Institute, University of Massachusetts at Amherst.
    5. World Bank & International Monetary Fund, 2005. "Global Monitoring Report 2005 : Millennium Development Goals— From Consensus to Momentum," World Bank Publications - Books, The World Bank Group, number 7325.
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    Cited by:

    1. Gobind M. Herani & Pervez Wasim & Allah Wasayo Rajar & Riaz Ahmed Shaikh, 2008. "The Nature of Poverty and Its Prospects: Pakistan Evidence," Journal of Global Economy, Research Centre for Social Sciences,Mumbai, India, vol. 4(3), pages 184-195, September.
    2. Ravinder Rena, 2008. "Recent Trends in the World Economy: A Case Study of Africa," Journal of Global Economy, Research Centre for Social Sciences,Mumbai, India, vol. 4(2), pages 86-104, June.

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    More about this item

    Keywords

    African Economy; MDGS; Financial System; Crude Oil; Human Development;
    All these keywords.

    JEL classification:

    • N57 - Economic History - - Agriculture, Natural Resources, Environment and Extractive Industries - - - Africa; Oceania
    • O11 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Macroeconomic Analyses of Economic Development
    • N67 - Economic History - - Manufacturing and Construction - - - Africa; Oceania
    • E24 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Employment; Unemployment; Wages; Intergenerational Income Distribution; Aggregate Human Capital; Aggregate Labor Productivity

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