Publication: Africa : Leveraging the Crisis into a Development Takeoff
Date
2010-09
ISSN
Published
2010-09
Author(s)
Abstract
Africa's precise growth and poverty
reduction was the result of increased external resources, a
buoyant global economy and crucially improved economic
policies. Although it is still the world's poorest
region, the prospects for resuming growth are good.
Additional resources and further policy reforms could launch
the continent on a path of sustained growth and poverty
reduction. Africa is the world's poorest region and
faces development challenges of monumental proportions.
Nevertheless, the continents prospects for resuming growth
are good because policy reforms generated relative rapid
economic growth and poverty reduction before the global
crisis, and because policy makers by and large continued to
pursue these policies during the crisis. It also means that
there is increasing political support for pro-poor reforms
the very reforms that will help the continent address the
challenges of infrastructure improvement, job creation,
governance, and shrinking aid. If the international
community continues to support Africa, the combination of
additional resources and policy reforms could launch the
continent on a path of sustained, rapid growth and poverty reduction.
Citation
“Devarajan, Shantayanan; Shetty, Sudhir. 2010. Africa : Leveraging the Crisis into a Development Takeoff. Economic Premise; No. 30. © World Bank, Washington, DC. http://openknowledge.worldbank.org/entities/publication/1e56aed7-0ae6-5428-a6ee-1fc754dbfc0f License: CC BY 3.0 IGO.”