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Revisiting Growth and Convergence : Is Africa Catching Up?

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dc.contributor.authorTsangarides, Charalambos G.
dc.date.accessioned2012-08-13T09:36:16Z
dc.date.available2012-08-13T09:36:16Z
dc.date.issued2001-05
dc.description.abstractThis article summarizes the publication "Revisiting Gowth and Convergence: Is Africa Catching Up?" The neoclassical Solow framework has been the workhorse for empirical analysis of growth in industrial and developing countries. In this framework, steady state economic growth depends on exogenous technological progress and population growth. In particular, without technological progress, output per capita does not grow. An important feature of the neoclassical model that has been the central focus of empirical work is the convergence property: output levels of countries with similar technologies converge to a given level in the steady state. In the end, ceteris paribus, the lagging poor countries will tend to catch up with the rich. Using cross-sectional analysis the majority of the literature seems to have reached a consensus on the issue of convergence: the poor do catch up with the rich, at a rate of 2-3 percent per year. The obvious shortcoming of the neoclassical model is that long-run per capita growth is determined by the exogenous rate of technological progress. Work on endogenous growth theory has introduced alternative models that explain long-run growth, and provide a theory of technological progress: growth is generated by factors other than exogenous technical change.en
dc.identifierhttp://documents.worldbank.org/curated/en/2001/05/1643381/revisiting-growth-convergence-africa-catching-up
dc.identifier.doi10.1596/9813
dc.identifier.urihttps://hdl.handle.net/10986/9813
dc.languageEnglish
dc.relation.ispartofseriesAfrica Region Findings & Good Practice Infobriefs; No. 183
dc.rightsCC BY 3.0 IGO
dc.rights.holderWorld Bank
dc.rights.urihttp://creativecommons.org/licenses/by/3.0/igo/
dc.subjectBUDGET DEFICITS
dc.subjectCAPITA INCOME
dc.subjectCAPITA INCOME GROWTH
dc.subjectCAPITAL ACCUMULATION
dc.subjectCONSTANT RATE
dc.subjectCOUNTRY SPECIFIC
dc.subjectCOUNTRY-SPECIFIC EFFECTS
dc.subjectCROSS-COUNTRY INCOME
dc.subjectECONOMIC ANALYSIS
dc.subjectECONOMIC FACTORS
dc.subjectECONOMIC GROWTH
dc.subjectECONOMIC POLICIES
dc.subjectEMPIRICAL ANALYSIS
dc.subjectEMPIRICAL EVIDENCE
dc.subjectEMPIRICAL WORK
dc.subjectENDOGENOUS GROWTH
dc.subjectEXOGENOUS RATE
dc.subjectFINANCIAL DEVELOPMENT
dc.subjectGROWTH MODELS
dc.subjectGROWTH RATES
dc.subjectGROWTH THEORIES
dc.subjectGROWTH THEORY
dc.subjectHUMAN CAPITAL
dc.subjectINCOME GROWTH
dc.subjectINCOMES
dc.subjectINFLATION RATE
dc.subjectLONG RUN
dc.subjectLONG-RUN GROWTH
dc.subjectLOW INFLATION
dc.subjectNEOCLASSICAL GROWTH
dc.subjectNEOCLASSICAL MODEL
dc.subjectPER CAPITA GROWTH
dc.subjectPOLARIZED SOCIETIES
dc.subjectPOLITICAL RIGHTS
dc.subjectPOPULATION GROWTH
dc.subjectPOPULATION GROWTH RATES
dc.subjectPOSITIVE EXTERNALITIES
dc.subjectPUBLIC GOODS
dc.subjectREAL INTEREST RATES
dc.subjectSAVINGS
dc.subjectSOCIAL POLICIES
dc.subjectSOCIAL POLICY
dc.subjectTECHNICAL CHANGE
dc.subjectTECHNOLOGICAL PROGRESS
dc.subjectTRADE OPENNESS GROWTH MODELS
dc.subjectGROWTH POLICY
dc.subjectCONVERGENCE HYPOTHESIS
dc.subjectPER CAPITA INCOME
dc.subjectCOMPARATIVE ECONOMICS
dc.subjectVARIABLE RATES
dc.subjectCROSS-COUNTRY EXPERIENCE
dc.subjectDEVELOPING COUNTRIES
dc.subjectSAVINGS BEHAVIOR
dc.subjectPOPULATION ECONOMICS
dc.subjectPOLICY DEVELOPMENT
dc.subjectLIBERALIZING ECONOMIES
dc.subjectFINANCIAL DEVELOPMENT
dc.subjectECONOMIC GROWTH
dc.titleRevisiting Growth and Convergence : Is Africa Catching Up?en
dc.title.alternativeRetour sur la croissance et la convergence : l'Afrique comble-t-elle le fosse ?en
dspace.entity.typePublication
okr.date.disclosure2002-01-17
okr.date.doiregistration2025-04-29T09:18:08.356065Z
okr.doctypePublications & Research::Brief
okr.doctypePublications & Research
okr.docurlhttp://documents.worldbank.org/curated/en/2001/05/1643381/revisiting-growth-convergence-africa-catching-up
okr.globalpracticeMacroeconomics and Fiscal Management
okr.globalpracticePoverty
okr.globalpracticeEnvironment and Natural Resources
okr.globalpracticeGovernance
okr.guid258401467990299404
okr.guid970161468003290877
okr.identifier.externaldocumentum000094946_01121204030028
okr.identifier.internaldocumentum1643381
okr.identifier.report22681
okr.language.supporteden
okr.pdfurlhttp://www-wds.worldbank.org/external/default/WDSContentServer/WDSP/IB/2002/01/17/000094946_01121204030028/Rendered/PDF/multi0page.pdfen
okr.region.administrativeAfrica
okr.sectorMacro/Non-Trade
okr.topicMacroeconomics and Economic Growth::Economic Growth
okr.topicPoverty Reduction::Inequality
okr.topicPoverty Reduction::Achieving Shared Growth
okr.topicEnvironmental Economics and Policies
okr.topicGovernance::Governance Indicators
okr.topicEnvironment
okr.unitAFT: Core Operations Services (AFTOS)
okr.volume1 of 1
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