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Why is Africa Marginal in the World Economy?

In: Can South and Southern Africa become Globally Competitive Economies?

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  • William Easterly

Abstract

Recent slowdowns aside, the last three decades were good ones for the world economy. The average world economic growth rate—both total and per capita—over this period was higher than at any previous time in history. This growth rate translated into huge improvements in the quality of life everywhere, developing countries included. The world rate of infant mortality in 1990 was one third of the rate in 1960; median life expectancy in all countries rose from 50 years to 65 years. Yet there was one region that was conspicuously left out of the worldwide boom of the last three decades: Africa.2

Suggested Citation

  • William Easterly, 1996. "Why is Africa Marginal in the World Economy?," Palgrave Macmillan Books, in: Gavin Maasdorp (ed.), Can South and Southern Africa become Globally Competitive Economies?, chapter 1, pages 19-30, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-349-24972-5_2
    DOI: 10.1007/978-1-349-24972-5_2
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    Citations

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    Cited by:

    1. Robin Leichenko & Karen O'Brien, 2002. "The Dynamics of Rural Vulnerability to Global Change: The Case of southern Africa," Mitigation and Adaptation Strategies for Global Change, Springer, vol. 7(1), pages 1-18, March.
    2. Kenny, Charles J. & Moss, Todd J., 1998. "Stock markets in Africa: Emerging lions or white elephants?," World Development, Elsevier, vol. 26(5), pages 829-843, May.
    3. Mukerji, Purba, 2009. "Ready for capital account convertibility?," Journal of International Money and Finance, Elsevier, vol. 28(6), pages 1006-1021, October.
    4. Sunday Mauton A. Posu, 2006. "Information and Communication Technologies in the Nigerian Economy," Papers of the Annual IUE-SUNY Cortland Conference in Economics, in: Oguz Esen & Ayla Ogus (ed.), Proceedings of the Conference on Human and Economic Resources, pages 327-337, Izmir University of Economics.

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