The economic tragedy of the XXth Century: Growth in Africa
AbstractThe dismal growth performance of Africa is the worst economic tragedy of the XXth century. We document the evolution of per capita GDP for the continent as a whole and for subset of countries south of the Sahara desert. We document the worsening of various income inequality indexes and we estimate poverty rates and headcounts. We then analyze some of the central robust determinants of economic growth reported by Sala-i-Martin, Doppelhofer and Miller (2003) and project the annual growth rates Africa would have enjoyed if these key determinants had taken OECD rather than African values. Expensive investment goods, low levels of education, poor health, adverse geography, closed economies, too much public expenditure and too many military conflicts are seen as key explanations of the economic tragedy.
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Bibliographic InfoPaper provided by Department of Economics and Business, Universitat Pompeu Fabra in its series Economics Working Papers with number 684.
Date of creation: Apr 2003
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Web page: http://www.econ.upf.edu/
Africa; determinants of growth; economic developement;
Other versions of this item:
- Elsa V. Artadi & Xavier Sala-i-Martin, 2003. "The Economic Tragedy of the XXth Century: Growth in Africa," NBER Working Papers 9865, National Bureau of Economic Research, Inc.
- Xavier Sala-i-Martin & Elsa V. Artadi, 2003. "The economic tragedy of the XXth century: Growth in Africa," Discussion Papers 0203-17, Columbia University, Department of Economics.
- O0 - Economic Development, Technological Change, and Growth - - General
- O1 - Economic Development, Technological Change, and Growth - - Economic Development
- O5 - Economic Development, Technological Change, and Growth - - Economywide Country Studies
This paper has been announced in the following NEP Reports:
- NEP-AFR-2004-05-26 (Africa)
- NEP-ALL-2004-05-26 (All new papers)
- NEP-DEV-2004-05-16 (Development)
- NEP-HIS-2004-05-26 (Business, Economic & Financial History)
- NEP-MFD-2004-05-16 (Microfinance)
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