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Sub-Saharan Africa: More Competition Less Inequality

October 17, 2019

Competition makes the economy work for people. (iStock by Getty images/ Stefan_Ganev)

Competition is considered to be an essential driving force of market economies. It’s said to ensure a more efficient allocation of resources and can boost innovation and productivity. But what happens when there isn’t enough competition? The latest Regional Economic Outlook for sub-Saharan Africa looks at how the lack of competition in the region is hurting the poor and undermining economic growth. In this podcast, IMF economists Reda Cherif and Jesus Gonzalez-Garcia say more competition could lower prices and increase welfare.

Reda Cherif and Jesus Gonzalez-Garcia are both economists in the Regional Studies Division of the IMF’s African Department