Growth in Sub-Saharan Africa

Author/Editor:

Dhaneshwar Ghura ; Michael T. Hadjimichael

Publication Date:

December 1, 1995

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:

The paper investigates empirically the determinants of economic growth for a large sample of sub-Saharan African countries during 1981-92. The results indicate that (i) an increase in private investment has a relatively large positive impact on per capita growth; (ii) growth is stimulated by public policies that lower the budget deficit in relation to GDP (without reducing government investment), reduce the rate of inflation, maintain external competitiveness, promote structural reforms, encourage human capital development, and slow population growth; and (iii) convergence of per capita income occurs after controlling for human capital development and public policies.

Series:

Working Paper No. 95/136

Subject:

Notes:

Also published in Staff Papers, Vol. 43, No. 3, September 1996.

English

Publication Date:

December 1, 1995

ISBN/ISSN:

9781451855753/1018-5941

Stock No:

WPIEA1361995

Format:

Paper

Pages:

32

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