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Capital Accumulation in Sub-Saharan Africa: Income-group and Sector Differences-super- †

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  • Nihal Bayraktar
  • Hippolyte Fofack

Abstract

This paper highlights heterogeneity in the process of capital accumulation across different countries by income group in Sub-Saharan Africa, and estimates empirical specifications of private capital in the primary, industry and service sectors. The results indicate a more rapid accumulation of capital in the relatively high-income group and a widening public-private capital accumulation gap in the region. The level of GDP per capita, quality of governance and public capital stock are found to influence private capital accumulation. Unexpectedly, financial variables do not appear to matter. Copyright 2011 , Oxford University Press.

Suggested Citation

  • Nihal Bayraktar & Hippolyte Fofack, 2011. "Capital Accumulation in Sub-Saharan Africa: Income-group and Sector Differences-super- †," Journal of African Economies, Centre for the Study of African Economies, vol. 20(4), pages 531-561, August.
    • Handle: RePEc:oup:jafrec:v:20:y:2011:i:4:p:531-561
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    File URL: http://hdl.handle.net/10.1093/jae/ejr013
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    Cited by:

    1. Guido Cazzavillan & Michael Donadelli, 2012. "Education vs TFP: Empirical Evidence from The Sub-Saharan Countries," Working Papers 2012_27, Department of Economics, University of Venice "Ca' Foscari".
    2. Nihal Bayraktar, 2019. "Effectiveness of public investment on growth in sub-Saharan Africa," Eurasian Economic Review, Springer;Eurasia Business and Economics Society, vol. 9(4), pages 421-457, December.
    3. Cazzavillan, Guido & Donadelli, Michael & Persha, Lauren, 2013. "Economic growth and poverty traps in sub-Saharan Africa: The role of education and TFP shocks," Research in Economics, Elsevier, vol. 67(3), pages 226-242.
    4. Amr Hosny, 2015. "Are we Sure About the Effects of the Egyptian Uprisings? A SURE Approach," Working Papers 945, Economic Research Forum, revised Sep 2015.

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