IDEAS home Printed from https://ideas.repec.org/p/imf/imfwpa/2011-040.html

Growth in Africa Under Peace and Market Reforms

Author

Listed:
  • Ms. Olessia Korbut
  • Mr. Gonzalo Salinas
  • Cheikh A. Gueye

Abstract

Economic stagnation in Sub-Saharan Africa (SSA) has led several economists to question the region’s ability to attain sustained economic growth, some of them arguing for the need to shift away from natural resource - based exports. Yet, we find that low growth has not been common to all SSA countries and that those that achieved political stability and significantly liberalized their economies experienced high growth in income per capita, as high as ASEAN-5 countries. This group of SSA countries attained high growth while maintaining their specialization in natural resource exports. Our analysis also rejects the hypothesis of reverse causality: that good growth performance allowed countries to attain political stability or liberalize their economies.

Suggested Citation

  • Ms. Olessia Korbut & Mr. Gonzalo Salinas & Cheikh A. Gueye, 2011. "Growth in Africa Under Peace and Market Reforms," IMF Working Papers 2011/040, International Monetary Fund.
    • Handle: RePEc:imf:imfwpa:2011/040
    as

    Download full text from publisher

    File URL: http://www.imf.org/external/pubs/cat/longres.aspx?sk=24667
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Romain Wacziarg & Karen Horn Welch, 2008. "Trade Liberalization and Growth: New Evidence," The World Bank Economic Review, World Bank, vol. 22(2), pages 187-231, June.
    2. Loayza, Norman V. & Raddatz, Claudio, 2010. "The composition of growth matters for poverty alleviation," Journal of Development Economics, Elsevier, vol. 93(1), pages 137-151, September.
    3. repec:wbk:wbpubs:6507 is not listed on IDEAS
    4. Simon Johnson & Jonathan D Ostry & Arvind Subramanian, 2010. "Prospects for Sustained Growth in Africa: Benchmarking the Constraints," IMF Staff Papers, Palgrave Macmillan, vol. 57(1), pages 119-171, April.
    5. Jeffrey D. Sachs & Andrew M. Warner, 1995. "Economic Convergence and Economic Policies," NBER Working Papers 5039, National Bureau of Economic Research, Inc.
    6. Arbache, Jorge & Go, Delfin S. & Page, John, 2008. "Is Africa's economy at a turning point?," Policy Research Working Paper Series 4519, The World Bank.
    7. Dani Rodrik, 2008. "Goodbye Washington Consensus, Hello Washington Confusion? A Review of the World Bank’s Economic Growth in the 1990s: Learning from a Decade of Reform," Panoeconomicus, Savez ekonomista Vojvodine, Novi Sad, Serbia, vol. 55(2), pages 135-156.
    8. Ms. Agnes A Belaisch & Mr. Charles Collyns & Ms. Paula De Masi & Mr. Guy M Meredith & Mr. Anoop Singh & Ms. Reva Krieger & Mr. Robert Rennhack, 2005. "Stabilization and Reform in Latin America: A Macroeconomic Perspective of the Experience Since the 1990s," IMF Occasional Papers 2005/002, International Monetary Fund.
    9. repec:wbk:wbpubs:6656 is not listed on IDEAS
    10. Rupa Duttagupta & Mr. Montfort Mlachila, 2008. "What is Really Good for Long-Term Growth? Lessons from a Binary Classification Tree (BCT) Approach," IMF Working Papers 2008/263, International Monetary Fund.
    11. Brahmbhatt, Milan & Canuto, Otaviano, 2010. "Natural Resources and Development Strategy after the Crisis," World Bank - Economic Premise, The World Bank, issue 1, pages 1-7, February.
    12. Ocampo, José Antonio & Parra-Lancourt, Mariángela, 2010. "The terms of trade for commodities since the mid-19th century," Revista de Historia Económica / Journal of Iberian and Latin American Economic History, Cambridge University Press, vol. 28(1), pages 11-43, March.
    13. Mr. Charalambos G Tsangarides & Mr. Alin T Mirestean, 2009. "Growth Determinants Revisited," IMF Working Papers 2009/268, International Monetary Fund.
    14. International Monetary Fund, 2009. "Spillovers From the Rest of the World Into Sub-Saharan African Countries," IMF Working Papers 2009/155, International Monetary Fund.
    15. repec:wbk:wbpubs:6421 is not listed on IDEAS
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Abay, Kibrom A. & Wondale, Meseret & Korir, Josphat K. & Bachewe, Fantu Nisrane & Araya, Mesele & Breisinger, Clemens, 2025. "The landscape of youth engagement in labor markets in Africa: Are youth driving structural transformation?," GSSP working papers 2382, International Food Policy Research Institute (IFPRI).
    2. Abay, Kibrom A. & Wondale, Meseret & Korir, Josphat K. & Bachewe, Fantu Nisrane & Araya, Mesele & Breisinger, Clemens, 2025. "The landscape of youth engagement in labor markets in Africa: Are youth driving structural transformation?," IFPRI discussion papers 2382, International Food Policy Research Institute (IFPRI).
    3. Mr. Montfort Mlachila & Mr. Tidiane Kinda, 2011. "The Quest for Higher Growth in the WAEMU Region: The Role of Accelerations and Decelerations," IMF Working Papers 2011/174, International Monetary Fund.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Mr. Andrew Berg & Yanliang Miao, 2010. "The Real Exchange Rate and Growth Revisited: The Washington Consensus Strikes Back?," IMF Working Papers 2010/058, International Monetary Fund.
    2. Mr. Montfort Mlachila & Mr. Tidiane Kinda, 2011. "The Quest for Higher Growth in the WAEMU Region: The Role of Accelerations and Decelerations," IMF Working Papers 2011/174, International Monetary Fund.
    3. Philipp Heimberger, 2022. "Does economic globalisation promote economic growth? A meta‐analysis," The World Economy, Wiley Blackwell, vol. 45(6), pages 1690-1712, June.
    4. Montfort Mlachila & René Tapsoba & Sampawende J. A. Tapsoba, 2017. "A Quality of Growth Index for Developing Countries: A Proposal," Social Indicators Research: An International and Interdisciplinary Journal for Quality-of-Life Measurement, Springer, vol. 134(2), pages 675-710, November.
    5. Juan Carlos Moreno Brid & Esteban Pérez Caldentey, 2010. "Trade and Economic Growth: A Latin American Perspective on Rhetoric and Reality," Chapters, in: Mark Setterfield (ed.), Handbook of Alternative Theories of Economic Growth, chapter 20, Edward Elgar Publishing.
    6. Claudius Gräbner & Philipp Heimberger & Jakob Kapeller & Florian Springholz, 2021. "Understanding economic openness: a review of existing measures," Review of World Economics (Weltwirtschaftliches Archiv), Springer;Institut für Weltwirtschaft (Kiel Institute for the World Economy), vol. 157(1), pages 87-120, February.
    7. Jinzhao Chen & Thérèse Quang, 2012. "International Financial Integration and Economic Growth: New Evidence on Threshold Effects," Working Papers halshs-00710139, HAL.
    8. World Bank, 2009. "Kenya - Poverty and Inequality Assessment : Executive Summary and Synthesis Report," World Bank Publications - Reports 3081, The World Bank Group.
    9. Eduardo Wiesner, 2008. "The Political Economy of Macroeconomic Policy Reform in Latin America," Books, Edward Elgar Publishing, number 12913.
    10. Andrew G. Berg & Jonathan D. Ostry, 2017. "Inequality and Unsustainable Growth: Two Sides of the Same Coin?," IMF Economic Review, Palgrave Macmillan;International Monetary Fund, vol. 65(4), pages 792-815, November.
    11. Stephanie Rickard & Daniel Kono, 2014. "Think globally, buy locally: International agreements and government procurement," The Review of International Organizations, Springer, vol. 9(3), pages 333-352, September.
    12. Joshua Aizenman & Mark M. Spiegel, 2010. "Takeoffs," Review of Development Economics, Wiley Blackwell, vol. 14(2), pages 177-196, May.
    13. repec:ecr:col031:4899 is not listed on IDEAS
    14. Alshyab, Nooh, 2013. "The Political Economy of Reform and Development of the Washington Consensus," MPRA Paper 46014, University Library of Munich, Germany.
    15. Anusha Chari & Peter Blair Henry & Hector Reyes, 2021. "The Baker Hypothesis: Stabilization, Structural Reforms, and Economic Growth," Journal of Economic Perspectives, American Economic Association, vol. 35(3), pages 83-108, Summer.
    16. Filho, Irineu de Carvalho & Chamon, Marcos, 2012. "The myth of post-reform income stagnation: Evidence from Brazil and Mexico," Journal of Development Economics, Elsevier, vol. 97(2), pages 368-386.
    17. Jinjarak, Yothin & Salinas, Gonzalo & Tsikata, Yvonne M., 2013. "The effect of World Bank trade adjustment assistance on trade and growth, 1987–2004: Is the glass half full or half empty?," Economic Systems, Elsevier, vol. 37(3), pages 415-430.
    18. Dutt, Pushan & Mobarak, Ahmed Mushfiq, 2016. "Democracy and policy stability," International Review of Economics & Finance, Elsevier, vol. 42(C), pages 499-517.
    19. Ricardo Hausmann & Lant Pritchett & Dani Rodrik, 2005. "Growth Accelerations," Journal of Economic Growth, Springer, vol. 10(4), pages 303-329, December.
    20. Lahimer, Noomen, 2009. "La contribution des investissements directs étrangers à la réduction de la pauvreté en Afrique subsaharienne," Economics Thesis from University Paris Dauphine, Paris Dauphine University, number 123456789/1167 edited by Goaied, Mohamed & Bienaymé, Alain.
    21. Alan King & Carlyn Ramlogan, 2008. "Is Latin America Catching Up? A Time‐Series Approach," Review of Development Economics, Wiley Blackwell, vol. 12(2), pages 397-415, May.

    More about this item

    Keywords

    ;
    ;
    ;
    ;
    ;
    ;
    ;
    ;
    ;
    ;
    ;
    ;
    ;
    ;
    ;
    ;
    ;

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:imf:imfwpa:2011/040. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Akshay Modi (email available below). General contact details of provider: https://edirc.repec.org/data/imfffus.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.