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The Role of Primary Commodities in Economic Development: Sub-Saharan Africa Versus the Rest of the World

Author

Listed:
  • Fabrizio Carmignani

    (United Nations Economic Commission for Africa)

  • Abdur Chowdhury

    (United Nations Economic Commission for Europe)

Abstract

The impact of the dependence on primary commodities for economic development is analysed within the framework of growth regressions. While there is no evidence of a generalized primary commodity curse, reliance on primary commodities does retard growth in sub-Saharan Africa (SSA). Which factors account for theis SSA specificity. Some suggest that SSA specializes in commodities that are not conductive to economic growth and that SSA depends on primary commodities more deeply than the rest of the world. These explanations are not strongly supported by the data. The key to SSA specific curse appears to lie in the interaction between institutions and primary commodities.

Suggested Citation

  • Fabrizio Carmignani & Abdur Chowdhury, 2007. "The Role of Primary Commodities in Economic Development: Sub-Saharan Africa Versus the Rest of the World," ECE Discussion Papers Series 2007_7, UNECE.
    • Handle: RePEc:ece:dispap:2007_7
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    More about this item

    Keywords

    economic diversification; commodity concentration; Africa; economic development; primary commodities;
    All these keywords.

    JEL classification:

    • O10 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - General
    • O13 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Agriculture; Natural Resources; Environment; Other Primary Products
    • O55 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies - - - Africa

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