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Abstract: August 1995 - Problems associated with Sub-Saharan Africa's slow growth are low school attainment, political instability, poorly developed financial systems, large black-market exchange-rate premia, large government deficits, and inadequate infrastructure. Improving policies alone boosts growth substantially. But if neighboring countries adopt a policy change together, the effects on growth are more than double what they would have been if one country had acted alone. Africa's economic history since 1960 fits the classical definition of tragedy: potential unfulfilled, with disastrous consequences. Easterly and Levine use one methodology - cross-country regressions - to account for Sub-Saharan Africa's growth performance over the past 30 years and to suggest policies to promote growth over the next 30 years. They statistically quantify the relationship between long-run growth and a wider array of factors than any previous study. They consider such standard variables as initial income to capture convergence effects, schooling, political stability, and indicators of monetary, fiscal, trade, exchange rate, and financial sector policies. They also consider such new measures as infrastructure development, cultural diversity, and economic spillovers from neighbors' growth. Their analysis: Improves substantially on past attempts to account for the growth experience of Sub-Saharan African countries; Shows that low school attainment, political instability, poorly developed financial systems, large black-market exchange-rate premia, large government deficits, and inadequate infrastructure are associated with slow growth; Finds that Africa's ethnic diversity tends to slow growth and reduce the likelihood of adopting good policies; Identifies spillovers of growth performance between neighboring countries. The spillover effects of growth have implications for policy strategy. Improving policies alone boosts growth substantially, but if neighboring countries act together, the effects on growth are much greater. Specifically, the results suggest that the effect of neighbors' adopting a policy change is 2.2 times greater than if a single country acted alone. This paper - a joint product of the Macroeconomics and Growth Division and the Finance and Private Sector Development Division, Policy Research Department - is part of a larger effort in the department to understand the link between policies and growth. The study was funded by the Bank's Research Support Budget under the research project Patterns of Growth (RPO 678-26).
What do we know about economic development in Africa? The answer is that we know much less than we would like to think. This collection assesses the knowledge problem present in statistics on poverty, agriculture, labour, education, health, and economic growth. While diverse in origin, the contributors to this book are unified in two conclusions: the quality and quantity of data needs to be improved; and this is a concern not just for statisticians. Weaknesses in statistical methodology and practice can misinform policy makers, international agencies, donors, the private sector, and the citizens of African countries themselves. This is also a problem for academics from various disciplines, from history and economics to social epidemiology and education policy. Not only does academic work on Africa regularly use flawed data, but many problems encountered in surveys challenge common academic abstractions. By exploring these flaws, this book will provide a guide for scholars, policy makers, and all those using and commissioning surveys in Africa. This book was originally published as a special issue of The Journal of Development Studies.
In the late 1990s, as economists looked back the development period in Africa since 1970s, they put forward the notion “African growth tragedy” , meaning that Africa's poor growth and resulting low income is associated with low schooling, political instability, underdeveloped financial systems, distorted foreign exchange markets, high government deficits, and insufficient infrastructure. In this essay, I will discuss the possible root of the “trajectory growth” in African countries from both a historical and an institutional perspective. At last, I will discuss the economic opportunities for the future African countries.
The 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.
Englebert argues that differences in economic performance both within Africa and across the developing world can be linked to differences in historical state legitimacy.
Well researched and insightful, this volume examines the historical and contemporary discourse on African development and the continent's place in the global economy. The chapters critically explore the roles played by various global and local social forces in the construction of the New Partnership for Africa's Development (NEPAD), offering critical insights on financing for development, the WTO and agriculture, ICTs and FDIs and the war on terrorism. NEPAD has been endorsed by the African Union, the Group of Eight and the United Nations System in order to address Africa's deficit through the forging of a global development partnership. This timely resource is suitable for students and policy makers concerned with development in the African post-colonies.