| Preface |
| Chapter I |
Overview |
| Chapter II |
Recent Developments and Short-Term Prospects |
| |
Overview of Developments in 2004 |
| |
Prospects for 2005 |
| Chapter III |
Responding to Exogenous Shocks |
| |
Impact of Declining World Cotton Prices |
| |
Impact of Removal of Textile Quotas |
| |
What Are the Policy Options? |
| |
| Chapter IV |
Sustaining Growth in Africa |
| |
Explaining Differences in Growth Performance |
| |
Growth Accelerations |
| |
Policies, Institutions, and Growth in SSA |
| |
Conclusions |
| Chapter V |
Making Regional Trade Arrangements More Effective In Africa |
| |
The Effects of African Trade Arrangements |
| |
What Can Be Done? |
| |
Appendix (Tables A1-A9) |
| |
Statistical Appendix |
| |
Explanatory Notes |
| |
List of Statistical Appendix Tables |
| References |
| List of AFR Publications 2003-05 |
| Boxes |
| |
2.1 |
Transparency in Oil Sector Operations in Africa |
| |
2.2 |
Pass-Through of Oil Price Increases to Domestic Prices |
| |
2.3 |
Impact of Higher Oil Prices on the Poor in Sub-Saharan Africa |
| |
2.4 |
South Africa-Structural and Social Reforms |
| |
3.1 |
The Impact of Quota Removal on Mauritius |
| |
4.1 |
Growth Experiences: Uganda, The Gambia, and Nigeria |
| |
5.1 |
Regional Trade Integration With and Without RTAs: The EU and East Asia |
| Tables |
| |
2.1 |
Sub-Saharan Africa (SSA) Selected Indicators |
| |
3.1 |
Share of Textiles and Clothing in Total Merchandise Exports and Share of U.S. and EU Markets in Total Exports,
2000-03 |
| |
4.1 |
Acceleration Start Dates and Per Capita Growth rates for 1980s and 1990s |
| |
4.2 |
Differences Between Sample Averages for Acceleration Episodes: Own Past and Non-Episodes |
| |
4.3 |
Differences Between Sample Averages: Sustained and Unsustained Accelerations |
| |
A1 |
Cotton Exports in Selected SSA Countries |
| |
A2 |
Subgroups of Countries |
| |
A3 |
Real GDP Per Capita Growth Performance Classification |
| |
A4 |
Real Per Capita Growth, Cross Fixed Capital Formation and Total Factor Productivity Growth |
| |
A5 |
Forgone Growth in Africa Relative to Other Regions |
| |
A6 |
Relative Impact of Robust Variables on Growth |
| |
A7 |
Changes in Real GDP Growth and Lagged Deficit Change |
| |
A8 |
Subperiod Averages for Budget Balance, Growth, and Domestic and Foreign Financing |
| |
A9 |
Country Classification by Financial Development and Growth Performance |
| Figures |
| |
2.1 |
Inflation |
| |
2.2 |
Commodity Prices |
| |
2.3 |
Oil Importers: Change in Current Account and Fiscal Balances, 2004 |
| |
2.4 |
Oil Importers: Change in Current Account and Fiscal Balances, 2004 |
| |
2.5 |
Oil Importers: Changes in Nominal Effective Exchange Rates and Reserves |
| |
3.1 |
World Cotton Prices, Monthy Averages |
| |
3.2 |
World Cotton Production |
| |
3.3 |
World Cotton Production, Area Cultivated, and Average Yields |
| |
3.4 |
Sub-Saharan Africa: Textile and Clothing Exports |
| |
4.1 |
Sub-Saharan Africa: Real GDP Per Capita Growth |
| |
4.2 |
Sub-Saharan Africa: Annual Inflation Rate |
| |
4.3 |
Sub-Saharan Africa: Fiscal Balance |
| |
4.4 |
Sub-Saharan Africa: Trade Openness for the Fast, Medium and Slow Growers of the 1990s |
| |
4.5 |
Tariffs and TFP Growth in Sub-Saharan Africa 1997-2003 |
| |
4.6 |
Sub-Saharan Africa: Government Spending on Education and Health |
| |
4.7 |
Financial Development of Sub-Saharan African Countries Classified by Growth |
| |
4.8 |
Evolution of Economic and Political Institutions in Sub-Saharan Africa |
| |
4.9 |
Objective Measures of Economic Institutions in Sub-Saharan Africa, 2004 |
| |
5.1 |
Intra-Africa Trade in Total African Trade and Africa's Share in World Trade |
| |
5.2 |
Foreign Direct Investment: Net Inflows in Africa |
