Adjustment and Growth in Sub-Saharan Africa
IMF Working Papers, April 1, 1999
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- Adjustment and Growth in Sub-Saharan Africa
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Bibliographic details
- Authors: Dhaneshwar Ghura, Anupam Basu, Anthony E Calamitsis
- Published: April 1, 1999
- Series: IMF Working Papers
- DOI: https://doi.org/10.5089/9781451847093.001
Overview and scope
- Paper analyzes factors affecting economic growth in sub-Saharan Africa using data for 1981–97.
- Authors: Dhaneshwar Ghura, Anupam Basu, Anthony E Calamitsis.
- Publication date: April 1, 1999. Working Paper No. 1999/051. Issue: 051. Volume: 1999. Pages: 35.
- DOI: https://doi.org/10.5089/9781451847093.001
- ISBN: 9781451847093. ISSN: 1018-5941. Stock No: WPIEA0511999.
Key empirical findings
- Per capita real GDP growth is positively influenced by:
- economic policies that raise the ratio of private investment to GDP;
- policies that promote human capital development;
- lower ratio of the budget deficit to GDP;
- policies that safeguard external competitiveness;
- policies that stimulate export volume growth.
- The favorable evolution of these variables played an important role in the region’s apparent postreform recovery of 1995–97.
Policy framework and recommendations
- Emphasize raising the ratio of private investment to GDP.
- Promote human capital development as a growth driver.
- Reduce the ratio of the budget deficit to GDP to support growth.
- Safeguard external competitiveness (including managing real effective exchange rates).
- Stimulate export volume growth to contribute to sustained per capita real GDP growth.
- The paper discusses a policy framework aimed at promoting sustainable economic growth and reducing poverty in sub-Saharan Africa.
Subjects and keywords (as listed)
- Subjects: Export performance, Foreign exchange, Human capital, Inflation, International trade, Labor, National accounts, Prices, Private investment, Real effective exchange rates.
- Keywords: a number of country, country, Export performance, GDP, growth performance, Human capital, Inflation, inflation rate, Private investment, rate of inflation, ratio, Real effective exchange rates, structural adjustment, Sub-Saharan Africa, very-weak-growth country, WP.
Source: IMF Working Paper by Dhaneshwar Ghura, Anupam Basu, and Anthony E Calamitsis, "Adjustment and Growth in Sub-Saharan Africa", April 1, 1999, Working Paper No. 1999/051. DOI: https://doi.org/10.5089/9781451847093.001
Content in this bundle
- Adjustment and Growth in Sub-Saharan Africa - WP/99/51