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African Development: Beyond Income Convergence

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  • Asongu Simplice

    ()
    (Yaoundé/Cameroun)

Abstract

In examining some big questions on African development, we provide evidence that dynamics of some development indicators could support both endogenous and neoclassical growth theories in the convergence debate. This paper investigates convergence in real per capita GDP and inequality adjusted human development in 38 African countries, disaggregated into 10 homogenous panels based on regions (Sub-Saharan and North Africa), income-levels (low, middle, lower-middle and upper-middle), legal-origins (English common-law and French civil-law) and religious dominations (Christianity and Islam). The main finding is that the income component of the human development index moves slower than others in the convergence process and thus requires a more focused policy intervention. As a policy implication, looking beyond income convergence can provide a concrete agenda for development involving all aspects of economic, institutional and social life.

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File URL: http://www.afridev.org/RePEc/agd/agd-wpaper/African-Development.-Beyond-Income-Convergence.pdf
File Function: Revised version, 2013
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Bibliographic Info

Paper provided by African Governance and Development Institute. in its series Working Papers with number 12/002.

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Length: 37
Date of creation: 19 Jan 2012
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Publication status: Published in the South African Journal of Economics
Handle: RePEc:agd:wpaper:12/002

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Keywords: Human development; Growth; Convergence; Panel; Africa;

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  2. Rabah Arezki & Thorvaldur Gylfason, 2011. "Resource Rents, Democracy and Corruption: Evidence from Sub-Saharan Africa," CESifo Working Paper Series 3575, CESifo Group Munich.
  3. Simplice A. Asongu, 2013. "Investment And Inequality In Africa: Which Financial Channels Are Good For The Poor?," The African Finance Journal, Africagrowth Institute, vol. 15(2), pages 43-65.
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  5. Asongu Simplice, 2012. "African Stock Market Performance Dynamics: A Multidimensional Convergence Assessment," Working Papers 12/004, African Governance and Development Institute..
  6. Simplice A, Asongu, 2012. "African Financial Development Dynamics: Big Time Convergence," MPRA Paper 36053, University Library of Munich, Germany.
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  8. Simplice Asongu, 2013. "Harmonizing IPRs on Software Piracy: Empirics of Trajectories in Africa," Journal of Business Ethics, Springer, vol. 118(1), pages 45-60, November.
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  12. Simplice A., Asongu, 2011. "Finance and inequality: exploring pro-poor investment channels in Africa," MPRA Paper 34994, University Library of Munich, Germany.
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  24. KONYA, Laszlo & GUISAN, Maria-Carmen, 2008. "What Does The Human Development Index Tell Us About Convergence?," Applied Econometrics and International Development, Euro-American Association of Economic Development, vol. 8(1), pages 19-40.
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