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African Development: Beyond Income Convergence

  • Asongu Simplice

    ()

    (Yaoundé/Cameroun)

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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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
Date of revision:
Publication status: Published in the South African Journal of Economics
Handle: RePEc:agd:wpaper:12/002
Contact details of provider: Web page: http://www.afridev.org/index.php/en/
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  7. Pritchett, Lant, 1995. "Divergence, big time," Policy Research Working Paper Series 1522, The World Bank.
  8. Simplice A, Asongu, 2012. "African Stock Market Performance Dynamics: A Multidimensional Convergence Assessment," MPRA Paper 36055, University Library of Munich, Germany.
  9. Sagarika Mishra & Paresh Kumar Narayan, 2010. "Do Market Capitalisation and Stocks Traded Converge? New Global Evidence," Economics Series 2010_11, Deakin University, Faculty of Business and Law, School of Accounting, Economics and Finance.
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