Sources of Growth in the Democratic Republic of the Congo: A Cointegration Approach

Matthias Cinyabuguma and Bernardin Akitoby

No 2004/114, IMF Working Papers from International Monetary Fund

Abstract: The paper investigates the sources of growth in the Democratic Republic of the Congo since 1960 and evaluates the relative importance of total factor productivity growth and factor accumulation, using a cointegration method and a growth accounting framework. The main findings confirm that poor economic policies and bad governance (through their effects on total factor productivity and capital accumulation) contributed to the country's economic decline during the 40-year period, 1960-2000. Looking forward, the paper finds that the right policies are being put in place to pave the way for a restoration of economic growth.

Keywords: WP; production function; physical capital; Congo; growth accounting; TFP; cointegration; real value; transport sector; GDP ratio; transport production function; enhanced interim program; Total factor productivity; Public expenditure review; Mining sector; Transportation; Agricultural sector; East Asia; Sub-Saharan Africa (search for similar items in EconPapers)
Pages: 32
Date: 2004-07-01
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Citations: View citations in EconPapers (10)

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Persistent link: https://EconPapers.repec.org/RePEc:imf:imfwpa:2004/114

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