Front Matter

Front Matter

Author(s):
Kevin Carey, Sanjeev Gupta, and Catherine Pattillo
Published Date:
February 2006
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    ©2006 International Monetary Fund

    Production: IMF Multimedia Services Division

    Cover Design: Martine Rossignol

    Typesetting: Alicia Etchebarne-Bourdin

    Cover Photo: Sven Torfinn/Panos Pictures

    Cataloging-in-Publication Data

    Pattillo, Catherine A. (Catherine Anne)

    Sustaining and accelerating pro-poor growth in Africa / Catherine Pattillo, Sanjeev Gupta, and Kevin Carey—[Washington, D.C.: International Monetary Fund, 2005].

    p. cm.

    ISBN 9781589064942

    Includes bibliographical references.

    1. Africa, Sub-Saharan—Economic policy. 2. Fiscal policy—Africa, Sub-Saharan. 3. Africa, Sub-Saharan—Economic conditions. I. Gupta, Sanjeev. II. Carey, Kevin Joseph, 1967–HC800.P27 2005

    Disclaimer: The views expressed in this work are those of the authors and do not necessarily represent those of the IMF or IMF policy. The IMF has not edited this publication. Some documents cited in this work may be not available publicly.

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    Contents

    Abbreviations

    CPIA

    Country Policy and Institutional Assessment

    CFA

    Communauté Financière Africaine

    GDP

    Gross Domestic Product

    GIC

    Growth Incidence Curve

    HIPC

    Heavily Indebted Poor Country

    ICRG

    International Country Risk Guide

    ISO

    International Standards Organization

    IV

    Instrumental Variable

    MDGs

    Millennium Development Goals

    MAMS

    Maquette for MDG Simulations

    NPV

    Net present value

    OPPG

    Operationalizing Pro-Poor Growth

    PWT

    Penn World Tables

    REO

    Regional Economic Outlook

    REER

    Real effective exchange rate

    TFP

    Total factor productivity

    UN

    United Nations

    Preface

    Are improvements in growth in sub-Saharan Africa since the mid-1990s sustainable? What types of growth strategies contribute the most to reducing poverty? This Special Issues paper examines these questions in four stages. First, it explores the factors contributing to the post-1995 improvement in growth. Second, to shed some light on factors associated with substantial jumps in growth rates that are sustained in the medium term, it presents an analysis of the correlates of growth accelerations. Third, the paper examines the consistency of the sub-Saharan African data with some important predictions from the literature directly linking such areas as fiscal policy, financial development, or institutions and growth. Fourth, it reviews recent evidence regarding lessons on the type of growth process that is most effective at raising the incomes of the poor.

    Earlier versions of some sections of the paper were presented in the Regional Economic Outlook: Sub-Saharan Africa (May 2005). Substantial inputs were made by Elena Duggar, Dmitry Kovtun, Brieuc Montfort, Charalambos Tsangarides, Yongzheng Yang, and, in particular, Smita Wagh. The authors wish to thank Anupam Basu, who initiated and provided many useful suggestions on the project and Anne-Marie Gulde-Wolf for guidance on the financial development section. The authors also wish to thank the following for their helpful comments: Andrew Berg, Oya Celasun, Norbert Funke, Dhaneshwar Ghura, Markus Haacker, Carlos Leite, Saul Lizondo, Michael Nowak, Robert Powell, and Arvind Subramanian. Useful comments and suggestions were also provided by many other IMF staff, particularly in the African Department. Vera Da Luz, Elisa Diehl, Suresh Gulati, and Ramatu Kabia provided excellent research and editorial assistance. Marina Primorac of the External Relations Department coordinated the production of this publication.

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