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Growth Variability among and within African Countries: An Aspect of Unsustained Development

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  • John Weeks

    (Department of Economics, SOAS University of London, UK)

Abstract

There is a considerable literature on the growth performance of the sub-Saharan countries, which tends to focus on average rates of growth over shorter or longer periods. This paper demonstrates that a key characteristic of the countries of the sub-Saharan region is the instability of growth rates, across countries, but, even more, for individual countries over time. The dispersion of country growth rates is not normally distributed; on the contrary, measures of dispersion are negatively correlated with long-term growth rates. It is argued that this instability, greater than in other regions, is the result of underdevelopment. Reducing instability is a task of long-run development policy, rather than short-term macro management. Further, it is probably the case that aspects of market deregulation make very poor countries more prone to instability.

Suggested Citation

  • John Weeks, 2001. "Growth Variability among and within African Countries: An Aspect of Unsustained Development," Working Papers 115, Department of Economics, SOAS University of London, UK.
    • Handle: RePEc:soa:wpaper:115
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    File URL: https://www.soas.ac.uk/sites/default/files/2022-10/economics-wp115.pdf
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    Cited by:

    1. Valensisi, Giovanni & Gauci, Adrian, 2013. "Graduated without passing? The employment dimension and LDCs' prospects under the Istanbul Programme of Action," MPRA Paper 86966, University Library of Munich, Germany.
    2. Constantino J. Gode, 2001. "Sovereign Debt and Uncertainty in the Mozambican Economy," WIDER Working Paper Series DP2001-130, World Institute for Development Economic Research (UNU-WIDER).

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