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References

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APPENDIX I

Appendix I: Selected Literature Survey

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1

Emmanuel Brou Aka was a summer intern in the African Department of the Fund when this paper was being prepared; he is a doctoral candidate at the Université d’Auvergne, Clermont-Ferrand, France. The authors are grateful to colleagues in the African Department for useful comments, and to Stéphanie Denis for invaluable research assistance.

4

For recent surveys on this subject, see Fosu (2001); and McPherson and Rakovski (2001).

5

Appendix I provides a brief survey of selected recent papers on economic growth and its sources in sub-Saharan Africa.

6

Another problem with the growth accounting framework is that it does not decompose properly growth stemming from the exploitation of natural resources. If a new oil field or diamond mine comes on stream it will tend to show up more as a boost in TFP than factor accumulation.

7

The World Bank (2000) estimates that an annual average growth rate of about 7 percent, and a better distribution of income, would be needed to achieve the MDG of halving the incidence of severe poverty by 2015.

8

Bosworth, Collins, and Chen (1995) provide empirical support for this value. Senhadji (2000) finds a mean value of 0.43 for group of countries from sub-Saharan Africa.

9

The large decline in TFP could also reflect the “destruction” of human and physical capital stemming from conflicts.

10

However, over the last two years, performance in a number of these countries has been adversely affected by the crisis in Côte d’Ivoire.

12

See also Rodrik, Subramanian, and Trebbi (2002) for an analysis of the role of institutions in economic development.

13

For a survey on the experience with financial sector reforms in sub-Saharan Africa, see Reinhart and Tokatlidis (2003).

Sources of Growth in Sub-Saharan Africa
Author: Mr. Brou E Aka, Mr. Bernardin Akitoby, Mr. Amor Tahari, and Mr. Dhaneshwar Ghura