African economies are facing the critical challenge of raising the rate of GDP growth and sustaining high growth rates and thus meet the Millennium Development Goals (MDGs). The performance of agriculture is more paradoxical and African exports of industrial goods are dominated by mining and crude oil. The financial systems remain largely underdeveloped both in terms of the size and range of financial instruments and services offered. This article explores the recent growth performance both at the continental and subregional level. It discusses disparities in growth performance and the factors behind the observed disparities across countries and subregions. It also discusses developments at the sectoral level and progress and challenges in human development, closing with a brief exposition of the prospects for 2007. The paper further analyses the HIV/AIDS in the continent and its impact on the economy.
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Publisher Info
Paper provided by University Library of Munich, Germany in its series MPRA Paper with number
11089.
Length: Date of creation: Mar 2007 Date of revision:
2007 Publication status: Published in Indus Journal of Management & Social Sciences 1.2(2008): pp. 1-14 Handle: RePEc:pra:mprapa:11089
Find related papers by JEL classification: N57 - Economic History - - Agriculture, Natural Resources, Environment and Extractive Industries - - - Africa; Oceania O11 - Economic Development, Technological Change, and Growth - - Economic Development - - - Macroeconomic Analyses of Economic Development N67 - Economic History - - Manufacturing and Construction - - - Africa; Oceania E24 - Macroeconomics and Monetary Economics - - Macroeconomics: Consumption, Saving, Production, Employment, and Investment - - - Employment; Unemployment; Wages; Intergenerational Income Distribution
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