{
  "title": "Africa: Is This the Turning Point?",
  "publication": "IMF Policy Discussion Papers, May 1, 1998",
  "sourceUrl": "https://www.imf.org/en/publications/imf-policy-discussion-papers/issues/2016/12/30/africa-is-this-the-turning-point-2580",
  "canonical": "https://www.imf.org/en/publications/imf-policy-discussion-papers/issues/2016/12/30/africa-is-this-the-turning-point-2580",
  "overlayPath": "/en/publications/imf-policy-discussion-papers/issues/2016/12/30/africa-is-this-the-turning-point-2580/index.md",
  "summary": "This paper examines the experience of Sub-Saharan Africa (SSA) to answer the question of whether the region is at a turning point in its economic fortunes. The improvement in growth reflects in part a rise in the utilization of existing capacity.",
  "sections": [
    {
      "heading": "Main question and scope",
      "content": "- Examines whether Sub-Saharan Africa (SSA) is at a turning point in its economic fortunes.\n- Focuses on drivers needed to sustain a high rate of growth in SSA."
    },
    {
      "heading": "Key findings on recent growth dynamics",
      "content": "- Recent improvement in growth reflects in part a rise in the utilization of existing capacity.\n- Sustaining a high rate of growth will require:\n  - an increase in investment rates and/or\n  - an increase in total factor productivity (improvements in the technological, political, administrative and economic factors that raise the rate of return on both capital and labor)."
    },
    {
      "heading": "Empirical evidence and quantitative relationship",
      "content": "- The close link between investment and growth in developing countries over the long term is evident in the empirical growth literature.\n- For developing countries in general, the elasticity of growth with respect to the investment/GDP ratio has been found to lie within the range of 0.3–0.5."
    },
    {
      "heading": "Policy implications and recommendations",
      "content": "- Increasing investment is crucial to sustain higher growth in SSA.\n- Complementary actions are needed to raise productivity and growth, including improvements in:\n  - technological factors,\n  - political and administrative environments,\n  - economic policies that raise rates of return on capital and labor.\n\nSource: Africa: Is This the Turning Point? by Mohsin S. Khan, Stanley Fischer, Ernesto Hernández-Catá (IMF Policy Discussion Papers), May 1, 1998.\n\n---\n\n Content in this bundle\n\n- Africa: Is This Turning Point? - PPAA/98/6\n  - Africa: Is This Turning Point? - PPAA/98/6 (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - Africa: Is This Turning Point? - PPAA/98/6 (PDF){rel=\"external\" type=\"application/pdf\"}\n\n---\n\nSource: https://www.imf.org/en/publications/imf-policy-discussion-papers/issues/2016/12/30/africa-is-this-the-turning-point-2580"
    }
  ],
  "bullets": [
    "[Markdown version](/en/publications/imf-policy-discussion-papers/issues/2016/12/30/africa-is-this-the-turning-point-2580/index.md)",
    "[Structured JSON version](/en/publications/imf-policy-discussion-papers/issues/2016/12/30/africa-is-this-the-turning-point-2580/index.json)",
    "[Bundle manifest](/en/publications/imf-policy-discussion-papers/issues/2016/12/30/africa-is-this-the-turning-point-2580/bundle-manifest.json)",
    "Authors: Mohsin S. Khan, Stanley Fischer, Ernesto Hernández-Catá",
    "Published: May 1, 1998",
    "Series: IMF Policy Discussion Papers",
    "DOI: https://doi.org/10.5089/9781451972061.003",
    "Examines whether Sub-Saharan Africa (SSA) is at a turning point in its economic fortunes.",
    "Focuses on drivers needed to sustain a high rate of growth in SSA.",
    "Recent improvement in growth reflects in part a rise in the utilization of existing capacity.",
    "Sustaining a high rate of growth will require:",
    "The close link between investment and growth in developing countries over the long term is evident in the empirical growth literature.",
    "For developing countries in general, the elasticity of growth with respect to the investment/GDP ratio has been found to lie within the range of 0.3–0.5.",
    "Increasing investment is crucial to sustain higher growth in SSA.",
    "Complementary actions are needed to raise productivity and growth, including improvements in:",
    "**Africa: Is This Turning Point? - PPAA/98/6**"
  ],
  "related": [
    {
      "title": "Africa: Is This Turning Point? - PPAA/98/6",
      "role": "document",
      "sourceUrl": "https://www.imf.org/-/media/websites/imf/imported-full-text-pdf/external/pubs/ft/ppaa/_ppaa9806.pdf",
      "summary": {
        "path": "/-/media/websites/imf/imported-full-text-pdf/external/pubs/ft/ppaa/_ppaa9806.pdf.md",
        "mime": "text/markdown"
      },
      "binary": {
        "path": "/-/media/websites/imf/imported-full-text-pdf/external/pubs/ft/ppaa/_ppaa9806.pdf",
        "mime": "application/pdf"
      }
    }
  ],
  "alternates": {
    "markdown": "/en/publications/imf-policy-discussion-papers/issues/2016/12/30/africa-is-this-the-turning-point-2580/index.md",
    "json": "/en/publications/imf-policy-discussion-papers/issues/2016/12/30/africa-is-this-the-turning-point-2580/index.json",
    "bundleManifest": "/en/publications/imf-policy-discussion-papers/issues/2016/12/30/africa-is-this-the-turning-point-2580/bundle-manifest.json"
  },
  "generatedAtUtc": "2026-09-20T18:00:51.990Z"
}