Publication:
Is Africa's Economy at a Turning Point?

Simple item page
dc.contributor.authorArbache, Jorge
dc.contributor.authorGo, Delfin S.
dc.contributor.authorPage, John
dc.date.accessioned2012-05-29T14:38:19Z
dc.date.available2012-05-29T14:38:19Z
dc.date.issued2008-02
dc.description.abstractIn this paper, Arbache, Go, and Page examine the recent acceleration of growth in Africa. Unlike the past, the performance is now registered broadly across several types of countries-particularly the oil-exporting and resource-intensive countries and, in more recent years, the large- and middle-income economies, as well as coastal and low-income countries. The analysis confirms a trend break in the mid-1990s, identifying a growth acceleration that is due not only to favorable terms of trade and greater aid, but also to better policy. Indeed, the growth diagnostics show that more and more African countries have been able to avoid mistakes with better macropolicy, better governance, and fewer conflicts; as a result, the likelihood of growth decelerations has declined significantly. Nonetheless, the sustainability of that growth is fragile, because economic fundamentals, such as savings, investment, productivity, and export diversification, remain stagnant. The good news in the story is that African economies appear to have learned how to avoid the mistakes that led to the frequent growth collapses between 1975 and 1995. The bad news is that much less is known about the recipes for long-term success in development, such as developing the right institutions and the policies to raise savings and diversify exports, than about how to avoid economic bad times.en
dc.identifierhttp://documents.worldbank.org/curated/en/2008/02/9354346/africas-economy-turning-point
dc.identifier.doi10.1596/1813-9450-4519
dc.identifier.urihttps://hdl.handle.net/10986/6527
dc.languageEnglish
dc.publisherWorld Bank, Washington, DC
dc.relation.ispartofseriesPolicy Research Working Paper; No. 4519
dc.rightsCC BY 3.0 IGO
dc.rights.holderWorld Bank
dc.rights.urihttp://creativecommons.org/licenses/by/3.0/igo/
dc.subjectABSOLUTE VALUE
dc.subjectACCOUNTABILITY
dc.subjectADJUSTMENT POLICIES
dc.subjectAGGREGATE INVESTMENT
dc.subjectAGGREGATE LEVEL
dc.subjectAGGREGATE OUTPUT
dc.subjectAGRICULTURE
dc.subjectANNUAL GROWTH
dc.subjectAVERAGE GROWTH
dc.subjectAVERAGE GROWTH RATE
dc.subjectAVERAGE GROWTH RATES
dc.subjectAVERAGE INCOME
dc.subjectAVERAGE INCOMES
dc.subjectBAD GOVERNANCE
dc.subjectCAPITA GROWTH
dc.subjectCAPITAL MARKETS
dc.subjectCASE STUDIES
dc.subjectCOMMODITIES
dc.subjectCOMMODITY
dc.subjectCOMMODITY PRICES
dc.subjectCOMMON MARKET
dc.subjectCOMPETITIVE EXCHANGE
dc.subjectCOMPETITIVE EXCHANGE RATE
dc.subjectCOMPETITIVENESS
dc.subjectCONNECTIVITY
dc.subjectCONSUMER PRICE
dc.subjectCONSUMER PRICE INDEX
dc.subjectCONSUMER PRICE INDEXES
dc.subjectCONSUMERS
dc.subjectCORRELATION ANALYSIS
dc.subjectCORRELATION COEFFICIENT
dc.subjectCORRELATION COEFFICIENTS
dc.subjectCORRUPTION
dc.subjectCOUNTRY DATA
dc.subjectCOUNTRY INITIATIVE
dc.subjectCOUNTRY LEVEL
dc.subjectCRITICAL MASS
dc.subjectCURRENT ACCOUNT BALANCE
dc.subjectDEBT
dc.subjectDEBT RELIEF
dc.subjectDEPENDENT VARIABLE
dc.subjectDEVELOPED COUNTRIES
dc.subjectDEVELOPING COUNTRIES
dc.subjectDEVELOPING REGIONS
dc.subjectDEVELOPMENT ASSISTANCE
dc.subjectDEVELOPMENT GOALS
dc.subjectDEVELOPMENT INDICATORS
dc.subjectDIRECT INVESTMENT
dc.subjectDOMESTIC INFLATION
dc.subjectECONOMIC BOOM
dc.subjectECONOMIC CONDITIONS
dc.subjectECONOMIC CONTRACTION
dc.subjectECONOMIC CONTRACTIONS
dc.subjectECONOMIC DEVELOPMENT
dc.subjectECONOMIC EXPANSION
dc.subjectECONOMIC GROWTH
dc.subjectECONOMIC MANAGEMENT
dc.subjectECONOMIC OUTLOOK
dc.subjectECONOMIC PERFORMANCE
dc.subjectEMPIRICAL STUDIES
dc.subjectESTIMATED COEFFICIENTS
dc.subjectEXCHANGE RATE MOVEMENTS
dc.subjectEXCHANGE RATE REGIME
dc.subjectEXCHANGE RATES
dc.subjectEXPORT DIVERSIFICATION
dc.subjectEXPORTS
dc.subjectEXPOSURE
dc.subjectEXTERNAL SHOCKS
dc.subjectFISCAL DEFICIT
dc.subjectFISCAL DEFICITS
dc.subjectFISCAL POLICY
dc.subjectFIXED CAPITAL
dc.subjectFIXED EXCHANGE RATE REGIMES
dc.subjectFLEXIBLE EXCHANGE RATE
dc.subjectFLEXIBLE EXCHANGE RATE REGIME
dc.subjectFOOD PRICES
dc.subjectFOREIGN AID
dc.subjectFOREIGN DIRECT INVESTMENT
dc.subjectFOREIGN DIRECT INVESTMENTS
dc.subjectFOREIGN INVESTMENTS
dc.subjectFUTURE GROWTH
dc.subjectGDP
dc.subjectGDP DEFLATOR
dc.subjectGDP PER CAPITA
dc.subjectGLOBAL ECONOMY
dc.subjectGLOBALIZATION
dc.subjectGOVERNANCE INDICATOR
dc.subjectGOVERNANCE INDICATORS
dc.subjectGOVERNMENT CONSUMPTION
dc.subjectGOVERNMENT EFFECTIVENESS
dc.subjectGROWTH EPISODE
dc.subjectGROWTH PATH
dc.subjectGROWTH PATTERN
dc.subjectGROWTH PERFORMANCE
dc.subjectGROWTH RATE
dc.subjectGROWTH RATES
dc.subjectGROWTH VOLATILITY
dc.subjectHARMONIZATION
dc.subjectHIGH GROWTH
dc.subjectHIGH INFLATION
dc.subjectHUMAN DEVELOPMENT
dc.subjectINCOME
dc.subjectINCOME GROWTH
dc.subjectINCOME LEVEL
dc.subjectINDIVIDUAL COUNTRIES
dc.subjectINDUSTRIAL COUNTRIES
dc.subjectINFANT MORTALITY
dc.subjectINFLATION
dc.subjectINSTITUTIONAL ENVIRONMENT
dc.subjectINSTITUTIONAL PERFORMANCE
dc.subjectINTERNATIONAL CAPITAL
dc.subjectINTERNATIONAL CAPITAL MARKETS
dc.subjectINTERNATIONAL MONETARY FUND
dc.subjectLANDLOCKED COUNTRIES
dc.subjectLIFE EXPECTANCY
dc.subjectLOCAL CURRENCY
dc.subjectLONG-RUN GROWTH
dc.subjectLONG-TERM GROWTH
dc.subjectLOW INCOME
dc.subjectLOW INCOME COUNTRIES
dc.subjectLOW-INCOME COUNTRIES
dc.subjectLOW-INCOME COUNTRY
dc.subjectMACROECONOMIC FRAMEWORK
dc.subjectMACROECONOMIC INSTABILITY
dc.subjectMACROECONOMIC MANAGEMENT
dc.subjectMACROECONOMIC POLICY
dc.subjectMACROECONOMIC STABILIZATION
dc.subjectMARGINAL RETURNS
dc.subjectMEAN GROWTH
dc.subjectMIDDLE EAST
dc.subjectMIDDLE INCOME
dc.subjectMIDDLE INCOME COUNTRIES
dc.subjectMIDDLE-INCOME COUNTRIES
dc.subjectMIDDLE-INCOME ECONOMIES
dc.subjectMONETARY UNION
dc.subjectNATIONAL ACCOUNTS
dc.subjectNATURAL DISASTERS
dc.subjectNET EXPORTS
dc.subjectNORTH AFRICA
dc.subjectOIL EXPORTERS
dc.subjectOUTPUT GROWTH
dc.subjectOUTPUT RATIO
dc.subjectOUTPUT VOLATILITY
dc.subjectOUTPUTS
dc.subjectPER CAPITA GROWTH
dc.subjectPER CAPITA INCOME
dc.subjectPOLICY CIRCLES
dc.subjectPOLICY RESEARCH
dc.subjectPOLITICAL CONDITIONS
dc.subjectPOLITICAL INSTABILITY
dc.subjectPOLITICAL STABILITY
dc.subjectPOOR COUNTRIES
dc.subjectPRICE INCREASES
dc.subjectPRIVATE INVESTMENT
dc.subjectPRIVATE INVESTMENTS
dc.subjectPRIVATE SECTOR
dc.subjectPUBLIC DEBT
dc.subjectPUBLIC EXPENDITURE
dc.subjectPUBLIC POLICY
dc.subjectPUBLIC SECTOR
dc.subjectPUBLIC SECTOR MANAGEMENT
dc.subjectPURCHASING POWER
dc.subjectPURCHASING POWER PARITY
dc.subjectRAPID GROWTH
dc.subjectRATE OF GROWTH
dc.subjectREAL EFFECTIVE EXCHANGE RATE
dc.subjectREAL EXCHANGE RATE
dc.subjectREAL GDP
dc.subjectREGIONAL GROUPINGS
dc.subjectREGULATORY QUALITY
dc.subjectRELATIVE IMPORTANCE
dc.subjectREPUTATION
dc.subjectRICH COUNTRIES
dc.subjectRICH ECONOMIES
dc.subjectRULE OF LAW
dc.subjectSAHARA
dc.subjectSAVINGS
dc.subjectSHARE OF WORLD TRADE
dc.subjectSHARP REDUCTION
dc.subjectSMALL COUNTRIES
dc.subjectSOCIAL OUTCOMES
dc.subjectSOCIAL VARIABLES
dc.subjectSTAGNATION
dc.subjectSTANDARD ERRORS
dc.subjectSTRUCTURAL BREAK
dc.subjectSTRUCTURAL POLICIES
dc.subjectSUB-SAHARAN AFRICA
dc.subjectTAXATION
dc.subjectTECHNICAL ASSISTANCE
dc.subjectTHE GAMBIA
dc.subjectTRADE SHOCKS
dc.subjectVALUE ADDED
dc.subjectWEALTH
dc.subjectWORLD DEVELOPMENT INDICATORS
dc.subjectWORLD ECONOMIC INDICATORS
dc.titleIs Africa's Economy at a Turning Point?en
dspace.entity.typePublication
okr.crossref.titleIs Africa's Economy At A Turning Point?
okr.date.doiregistration2025-04-10T10:28:59.735539Z
okr.doctypePublications & Research::Policy Research Working Paper
okr.doctypePublications & Research
okr.docurlhttp://documents.worldbank.org/curated/en/2008/02/9354346/africas-economy-turning-point
okr.globalpracticeMacroeconomics and Fiscal Management
okr.globalpracticePoverty
okr.globalpracticeGovernance
okr.globalpracticeTrade and Competitiveness
okr.guid270101468192229603
okr.identifier.doi10.1596/1813-9450-4519
okr.identifier.externaldocumentum000158349_20080414093531
okr.identifier.internaldocumentum9354346
okr.identifier.reportWPS4519
okr.language.supporteden
okr.pdfurlhttp://www-wds.worldbank.org/external/default/WDSContentServer/WDSP/IB/2008/04/14/000158349_20080414093531/Rendered/PDF/wps4519.pdfen
okr.region.administrativeAfrica
okr.region.geographicalAfrica
okr.region.geographicalSub-Saharan Africa
okr.topicPoverty Reduction::Achieving Shared Growth
okr.topicEconomic Theory and Research
okr.topicMacroeconomics and Economic Growth::Economic Conditions and Volatility
okr.topicPrivate Sector Development::Emerging Markets
okr.topicGovernance::Governance Indicators
okr.unitDevelopment Research Group (DECRG)
okr.volume1 of 1
relation.isAuthorOfPublication165325f4-d27a-5241-80a4-eb5495c41c24
relation.isAuthorOfPublication.latestForDiscovery165325f4-d27a-5241-80a4-eb5495c41c24
relation.isSeriesOfPublication26e071dc-b0bf-409c-b982-df2970295c87
relation.isSeriesOfPublication.latestForDiscovery26e071dc-b0bf-409c-b982-df2970295c87
Files
Original bundle
Now showing 1 - 2 of 2
Thumbnail Image
Name:
wps4519.pdf
Size:
516.75 KB
Format:
Adobe Portable Document Format
Download
No Thumbnail Available
Name:
wps4519.txt
Size:
217.69 KB
Format:
Plain Text
Download
License bundle
Now showing 1 - 1 of 1
No Thumbnail Available
Name:
license.txt
Size:
1.71 KB
Format:
Plain Text
Description:
Download
Collections
Policy Research Working Papers