Raising Growth and Investment in Sub-Saharan Africa : What Can be Done?

Author/Editor:

Ernesto Hernández-Catá

Publication Date:

May 1, 2000

Electronic Access:

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Disclaimer: This Policy Dicussion Paper should not be reported as representing the views of the IMF.The views expressed in this Working Paper are those of the author(s) and do not necessarily represent those of the IMF or IMF policy. Working Papers describe research in progress by the author(s) and are published to elicit comments and to further debate

Summary:

This paper argues that sub-Saharan Africa’s growth performance needs to be improved substantially in order to raise standards of living to an acceptable level and achieve a visible reduction in poverty. The paper provides a broad overview of the explanations for sub-Saharan Africa’s unsatisfactory growth performance in the past, paying particular attention to the empirical literature. It argues that growth has been hampered by economic distortions and institutional deficiencies that have increased the risk of investing in Africa, and lowered the rates of return on capital and labor as well as the growth of total factor productivity.

Series:

Policy Discussion Paper No. 00/4

Subject:

English

Publication Date:

May 1, 2000

ISBN/ISSN:

9781451973518/1934-7456

Stock No:

PPIEA0042000

Format:

Paper

Pages:

27

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