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The International Dimension of African Economic Growth

  • Augustin Kwasi Fosu

The paper sheds light on the importance of the international dimension for African economic growth. While existing evidence points to a positive impact of openness on growth, the appropriate dynamics of the implications are yet to be captured. The beneficial effects of exports are confirmed for African economies, though available evidence suggests that it is the manufacturing component that seems to really matter for growth. International shocks in the form of terms of trade declines; economic instabilities of capital (investment) and imports; world interest rates; real exchange rate misalignment; and external debt all appear to exercise adverse implications for growth in Africa.

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File URL: http://www.cid.harvard.edu/cidwp/pdf/034.pdf
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Paper provided by Center for International Development at Harvard University in its series CID Working Papers with number 34.

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Date of creation: Jan 2000
Date of revision:
Handle: RePEc:wop:cidhav:34
Contact details of provider: Postal: Center for International Development at Harvard University (CID). 79 John F. Kennedy Street, Cambridge, MA 02138.
Fax: 617-496-2554
Web page: http://www.cid.harvard.edu/cidwp/
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