## Adjustment and Growth in Sub-Saharan Africa

_IMF Working Papers, April 1, 1999_

## Source details

**Canonical URL:** [Adjustment and Growth in Sub-Saharan Africa](https://www.imf.org/en/publications/wp/issues/2016/12/30/adjustment-and-growth-in-sub-saharan-africa-2986)

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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

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### 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*

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_Source: https://www.imf.org/en/publications/wp/issues/2016/12/30/adjustment-and-growth-in-sub-saharan-africa-2986_