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Raising Growth and Investment in Sub-Saharan Africa: What Can be Done?
Author:
Mr. Ernesto Hernández-Catá
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Series:
IMF Policy Discussion Papers
Volume/Issue:
Volume 2000: Issue 004
Language:
English
Publication Date:
01 May 2000
DOI:
https://doi.org/10.5089/9781451973518.003
ISBN:
9781451973518
ISSN:
1564-5193
Pages:
27
Keywords:
PDP; country; trade liberalization; liberalization; poverty; rate of return; Growth; Investment; Africa; fund staff; investment ratio; trade performance; international community; fund program; Private investment; Poverty reduction and development; Poverty reduction strategy; Poverty reduction; Infrastructure; Sub-Saharan Africa
Legal-disclaimer:
This Policy Discussion Paper should not be reported as representing the views of the IMF. The views expressed in this Policy Discussion Paper are those of the author(s) and do not necessarily represent those of the IMF or IMF policy. Policy Discussion Papers describe research in progress by the author(s) and are published to elicit comments and to further debate.
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This paper argues that sub-Saharan Africa’s growth performance needs to be improved substantially in order to raise standards of living to an acceptable level and achieve a visible reduction in poverty. The paper provides a broad overview of the explanations for sub-Saharan Africa’s unsatisfactory growth performance in the past, paying particular attention to the empirical literature. It argues that growth has been hampered by economic distortions and institutional deficiencies that have increased the risk of investing in Africa, and lowered the rates of return on capital and labor as well as the growth of total factor productivity.
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Cover IMF Policy Discussion Papers
IMF Policy Discussion Papers
ISSN:
1564-5193
Publisher:
International Monetary Fund