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Growth in Sub-Saharan Africa

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Author Info

  • Dhaneshwar Ghura

    (International Monetary Fund)

  • Michael T. Hadjimichael

    (International Monetary Fund)

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    Abstract

    The paper investigates empirically the determinants of per capita economic growth for a large sample of sub-Saharan African countries during 1981-92. The results indicate that (1) an increase in private investment has a relatively large positive impact on per capita growth; (2) growth is stimulated by public policies that lower the budget deficit in relation to GDP (without reducing government investment), reduce the rate of inflation, maintain external competitiveness, promote structural reforms, encourage human capital development, and slow population growth; and (3) per capita income converges after controlling for human capital development and public policies.

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    Bibliographic Info

    Article provided by Palgrave Macmillan in its journal Staff Papers - International Monetary Fund.

    Volume (Year): 43 (1996)
    Issue (Month): 3 (September)
    Pages: 605-634

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    Handle: RePEc:pal:imfstp:v:43:y:1996:i:3:p:605-634

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    Cited by:
    1. Hakim Ben Hammouda & Stephen Karingi & Angelica Njuguna & Mustapha Sadni Jallab, 2010. "Growth, productivity and diversification in Africa," Journal of Productivity Analysis, Springer, vol. 33(2), pages 125-146, April.
    2. Polimeni, John M. & Iorgulescu Polimeni, Raluca & Trees, W. Scott, 2007. "Extending The Augmented Solow Growth Model To Explain Transitional Economies," Journal for Economic Forecasting, Institute for Economic Forecasting, vol. 4(1), pages 65-76, March.
    3. Mahvash Saeed Qureshi & Charalambos G. Tsangarides, 2006. "What is Fuzzy About Clustering in West Africa?," IMF Working Papers 06/90, International Monetary Fund.
    4. Gary G. Moser & Toshihiro Ichida, 2001. "Economic Growth and Poverty Reduction in Sub-Saharan Africa," IMF Working Papers 01/112, International Monetary Fund.
    5. Agenor, Pierre-Richard & Aizenman, Joshua, 2000. "Savings and the terms of trade under borrowing constraints," Policy Research Working Paper Series 2381, The World Bank.
    6. Jean-Claude Nachega & Thomson Fontaine, 2006. "Economic Growth and total Factor Productivity in Niger," IMF Working Papers 06/208, International Monetary Fund.
    7. Yves Abessolo, 2005. "Ouverture commerciale : condition de la contribution effective du capital humain à la croissance économique des pays en développement," Documents de travail 109, Groupe d'Economie du Développement de l'Université Montesquieu Bordeaux IV.
    8. Charalambos G. Tsangarides, 2005. "Growth Empirics Under Model Uncertainty," IMF Working Papers 05/18, International Monetary Fund.
    9. Ilhem Baghdadli & Bernard Harborne & Tania Rajadel, 2008. "Breaking the Cycle : A Strategy for Conflict-Sensitive Rural Growth in Burundi," World Bank Publications, The World Bank, number 6459, October.
    10. Issouf Samaké, 2008. "Investment and Growth Dynamics," IMF Working Papers 08/120, International Monetary Fund.
    11. Dhaneshwar Ghura & Rina Bhattacharya, 2006. "Oil and Growth in the Republic of Congo," IMF Working Papers 06/185, International Monetary Fund.
    12. 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.
    13. Deng, Binbin, 2009. "Principal Constituents Decomposition of Economic Development—A Domestic Level Analysis of Sub-Saharan African Countries," MPRA Paper 23237, University Library of Munich, Germany.
    14. Coulibaly, Issiaka & Davis, Junior, 2013. "Exchange rate regimes and economic performance: Does CFA zone membership benefit their economies?," MPRA Paper 54075, University Library of Munich, Germany.
    15. Qureshi, Mahvash Saeed & Tsangarides, Charalambos G., 2012. "Hard or Soft Pegs? Choice of Exchange Rate Regime and Trade in Africa," World Development, Elsevier, vol. 40(4), pages 667-680.
    16. Nganou, Jean-Pascal & Kebede, Ephraim, 2012. "Sources of Growth in Post-Conflict Burundi: From Destruction to Production," MPRA Paper 43577, University Library of Munich, Germany.
    17. Aron, Janine, 2000. "Growth and Institutions: A Review of the Evidence," World Bank Research Observer, World Bank Group, vol. 15(1), pages 99-135, February.

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