Sources of Growth in Sub-Saharan Africa

Brou Aka, Bernardin Akitoby, Amor Tahari and Dhaneshwar Ghura

No 2004/176, IMF Working Papers from International Monetary Fund

Abstract: Analysis of 1960-2002 data shows that average real GDP growth in sub-Saharan Africa was low and decelerated continuously before starting to recover in the second part of the 1990s. Growth was driven primarily by factor accumulation with little role for total factor productivity (TFP) growth. The recent pickup in economic growth was accompanied by an increase in TFP growth, namely in the group of countries whose IMF-supported programs were judged to be on track. Average annual growth in the region, at 3½ percent during 1997-2002, is less than half of the estimated growth needed to halve the fraction of population living below $1 per day between 1990 and 2015, one of the Millennium Development Goals.

Keywords: WP; country; Sub-Saharan Africa; real GDP; Growth Accounting; Growth Prospects; CFA franc; tertiary sector; investment-GDP ratio; TFP decline; growth in the region; Total factor productivity; Africa; East Asia (search for similar items in EconPapers)
Pages: 31
Date: 2004-09-01
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (34)

Downloads: (external link)
http://www.imf.org/external/pubs/cat/longres.aspx?sk=17614 (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:imf:imfwpa:2004/176

Ordering information: This working paper can be ordered from
http://www.imf.org/external/pubs/pubs/ord_info.htm

Access Statistics for this paper

More papers in IMF Working Papers from International Monetary Fund International Monetary Fund, Washington, DC USA. Contact information at EDIRC.
Bibliographic data for series maintained by Akshay Modi ().