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Adjustment and Growth in Sub-Saharan Africa
Author:
Mr. Dhaneshwar Ghura
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,
Mr. Anupam Basu
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Mr. Anthony E Calamitsis
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Series:
IMF Working Papers
Volume/Issue:
Volume 1999: Issue 051
Language:
English
Publication Date:
01 Apr 1999
DOI:
https://doi.org/10.5089/9781451847093.001
ISBN:
9781451847093
ISSN:
1018-5941
Pages:
35
Keywords:
WP; country; GDP; ratio; inflation rate; growth performance; rate of inflation; a number of country; structural adjustment; very-weak-growth country; Inflation; Private investment; Human capital; Export performance; Real effective exchange rates; Sub-Saharan Africa
Legal-disclaimer:
IMF Working Papers describe research in progress by the author(s) and are published to elicit comments and to encourage debate. The views expressed in IMF Working Papers are those of the author(s) and do not necessarily represent the views of the IMF, its Executive Board, or IMF management.
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This paper analyzes the factors affecting economic growth in sub-Saharan Africa, using data for 1981–97. The results indicate that per capita real GDP growth is positively influenced by economic policies that raise the ratio of private investment to GDP, promote human capital development, lower the ratio of the budget deficit to GDP, safeguard external competitiveness, and stimulate export volume growth. The favorable evolution of these variables played an important role in the region’s apparent postreform recovery of 1995–97. The paper also discusses a policy framework to promote sustainable economic growth and reduce poverty in sub-Saharan Africa
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Cover IMF Working Papers
IMF Working Papers
ISSN:
1018-5941
Publisher:
International Monetary Fund