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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