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Commodity Prices and Growth in Africa

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  • Angus Deaton

Abstract

African states that came to independence by the late 1960s made a rapid transition to authoritarian rule during a period of reasonably robust growth. Growth then faltered badly from the mid-1970s to the mid-1990s as these regimes coped with external shocks and varying degrees of fiscal crisis. Leading critics embed Africa's slow growth in failures of governance associated with "weak" authoritarian rule. These provide important insights into policy patterns while suggesting the growth-promoting potential of Africa's recent Democratization.

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File URL: http://www.aeaweb.org/articles.php?doi=10.1257/jep.13.3.23
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Bibliographic Info

Article provided by American Economic Association in its journal Journal of Economic Perspectives.

Volume (Year): 13 (1999)
Issue (Month): 3 (Summer)
Pages: 23-40

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Handle: RePEc:aea:jecper:v:13:y:1999:i:3:p:23-40

Note: DOI: 10.1257/jep.13.3.23
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  1. Deaton, Angus, 1991. "Saving and Liquidity Constraints," Econometrica, Econometric Society, vol. 59(5), pages 1221-48, September.
  2. Ardeni, Pier Giorgio & Wright, Brian, 1992. "The Prebisch-Singer Hypothesis: A Reappraisal Independent of Stationarity Hypotheses," Economic Journal, Royal Economic Society, vol. 102(413), pages 803-12, July.
  3. Sachs, J-D & Warner, A-M, 1995. "Natural Resource Abundance and Economic Growth," Papers 517a, Harvard - Institute for International Development.
  4. Angus Deaton & Guy Laroque, 1990. "On The Behavior of Commodity Prices," NBER Working Papers 3439, National Bureau of Economic Research, Inc.
  5. Bevan, David & Collier, Paul & Gunning, Jan Willem, 1990. "Peasants and Governments: An Economic Analysis," OUP Catalogue, Oxford University Press, number 9780198286219.
  6. Wood, Adrian & Mayer, Jorg, 2001. "Africa's Export Structure in a Comparative Perspective," Cambridge Journal of Economics, Oxford University Press, vol. 25(3), pages 369-94, May.
  7. Gersovitz, M. & Paxson, C.H., 1990. "The Economies Of Africa And The Prices Of Their Exports," Princeton Studies in International Economics 68, International Economics Section, Departement of Economics Princeton University,.
  8. Robert S. Pindyck & Julio J. Rotemberg, 1988. "The Excess Co-Movement of Commodity Prices," NBER Working Papers 2671, National Bureau of Economic Research, Inc.
  9. Cuddington, John T & Urzua, Carlos M, 1989. "Trends and Cycles in the Net Barter Terms of Trade: A New Approach," Economic Journal, Royal Economic Society, vol. 99(396), pages 426-42, June.
  10. Bateman, Merrill J. & Meeraus, Alexander & Newbery, David M. & Okyere, William Asenso & O'Mara, Gerald T., 1990. "Ghana's cocoa pricing policy," Policy Research Working Paper Series 429, The World Bank.
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