Adjustment and Growth in Sub-Saharan Africa

Author/Editor:

Dhaneshwar Ghura ; Anupam Basu ; Anthony E Calamitsis

Publication Date:

April 1, 1999

Electronic Access:

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Disclaimer: This Working 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 analyzes the factors affecting economic growth in sub-Saharan Africa, using data for 1981–97. The results indicate that per capita real GDP growth is positively influenced by economic policies that raise the ratio of private investment to GDP, promote human capital development, lower the ratio of the budget deficit to GDP, safeguard external competitiveness, and stimulate export volume growth. The favorable evolution of these variables played an important role in the region’s apparent postreform recovery of 1995–97. The paper also discusses a policy framework to promote sustainable economic growth and reduce poverty in sub-Saharan Africa

Series:

Working Paper No. 1999/051

Subject:

Export performance Foreign exchange Human capital Inflation International trade Labor National accounts Prices Private investment Real effective exchange rates

English

Publication Date:

April 1, 1999

ISBN/ISSN:

9781451847093/1018-5941

Stock No:

WPIEA0511999

Pages:

35

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