Cho, YoonyoungTien, Bienvenue N.2014-05-152014-05-152014-05https://hdl.handle.net/10986/18350Since the mid-1990s, Sub-Saharan Africa has experienced unprecedented levels of high economic growth. A key question follows: What accounts for the turnaround of the growth performance in the mid-1990s? The answer can provide insight into whether the recent growth spurt in Sub-Saharan Africa is merely temporary or the beginning of a sustainable takeoff. This paper examines the sources of growth of 32 countries in Sub-Saharan Africa in a growth accounting framework. The findings suggest that the recent growth spurt is largely associated with an increase in the share of working-age population, capital accumulation, and total factor productivity, unlike previous periods. Resources play a role by attracting capital inflows, particularly from foreign direct investment and shifting labor away from agriculture. However, the growth prospects for Sub-Saharan Africa seem promising beyond resources, with steady progress in decreased fertility, increased foreign direct investment, political stability, and structural transformation.en-USCC BY 3.0 IGOAGGREGATE INCOMEAGGREGATE PRODUCTION FUNCTIONAGRICULTURAL PRODUCTIVITYAGRICULTUREANNUAL DEPRECIATION RATEANNUAL GROWTHBARRIERBUSINESS ENVIRONMENTBUSINESS PRACTICESCAPITA INCOMECAPITAL ACCUMULATIONCAPITAL FLOWSCAPITAL FORMATIONCAPITAL INFLOWCAPITAL INFLOWSCAPITAL STOCKCIVIL LIBERTIESCIVIL WARSCOMMODITYCOMMODITY PRICECOMMODITY PRICESCOMPARATIVE ANALYSISCONTRACEPTIVE METHODSCURRENT ACCOUNT BALANCEDATA AVAILABILITYDEBTDECLINES IN FERTILITYDEMOGRAPHICDEMOGRAPHIC CHANGEDEMOGRAPHIC TRANSITIONDEPENDENCY RATIODEPENDENCY RATIOSDETERMINANTS OF GROWTHDEVELOPED COUNTRIESDEVELOPING COUNTRIESDEVELOPMENT ASSISTANCEDEVELOPMENT ECONOMICSDEVELOPMENT INDICATORSDEVELOPMENT POLICYDIVIDENDDOMESTIC SAVINGECONOMIC ACTIVITYECONOMIC CRISISECONOMIC DEVELOPMENTECONOMIC DOWNTURNECONOMIC ENVIRONMENTECONOMIC GROWTHECONOMIC OUTLOOKECONOMIC PERFORMANCEECONOMIC RESEARCHECONOMIC STUDIESECONOMIC TAKEOFFEDUCATION LEVELEDUCATIONAL ATTAINMENTELASTICITYELDERLYEMERGING ECONOMIESEMPIRICAL ESTIMATESEMPIRICAL EVIDENCEFACTOR ACCUMULATIONFEMALE LABOR FORCEFERTILITYFERTILITY DECLINEFERTILITY DECLINESFERTILITY RATEFERTILITY RATESFINANCIAL INFLOWSFINANCIAL MARKETSFINANCIAL SECTORFINANCIAL SECTOR DEVELOPMENTFIXED CAPITALFOREIGN DIRECT INVESTMENTFOREIGN PORTFOLIOFOREIGN PORTFOLIO INVESTMENTFUNCTIONAL FORMGDPGDP PER CAPITAGLOBAL BUSINESSGLOBAL LEVELGLOBAL RECESSIONGROSS DOMESTIC PRODUCTGROSS FIXED CAPITAL FORMATIONGROSS NATIONAL INCOMEGROWTH ACCELERATIONSGROWTH ACCOUNTINGGROWTH LITERATUREGROWTH PATTERNGROWTH PERFORMANCEGROWTH PROSPECTSGROWTH RATEGROWTH RATESGROWTH TRAGEDYHIGH GROWTHHUMAN CAPITALHUMAN DEVELOPMENTIMPACTS OF POLICIESIMPROVING PRODUCTIVITYINCOME DISTRIBUTIONINCOME GROUPSINCOME SHAREINCREASE IN LABORINDIVIDUAL RIGHTSINDUSTRIAL COUNTRIESINDUSTRIAL DEVELOPMENTINTANGIBLEINTEREST RATESINTERNATIONAL BUSINESSINTERNATIONAL CAPITALINTERNATIONAL LABOUR ORGANIZATIONINTERNATIONAL TRADEINVENTORYINVESTMENT CLIMATEINVESTMENT DECISIONSINVESTMENT IN EDUCATIONLABOR FORCELABOR MARKETLEVEL OF CAPITALLIFE EXPECTANCYLOW FERTILITYLOW-INCOME COUNTRIESMACROECONOMICSMICRO DATAMIGRANTMIGRANT WORKERSMONETARY ECONOMICSMORTALITYNATIONAL ACCOUNTSNATIONAL INCOMENATURAL RESOURCENET EXPORTSNUMBER OF CHILDRENNUMBER OF WORKERSOFFICIAL DEVELOPMENT ASSISTANCEOPEN ECONOMYOUTPUTOUTPUT GROWTHOUTPUT PER CAPITAPER CAPITA GROWTHPER CAPITA INCOMEPOLICY DISCUSSIONSPOLICY MAKERSPOLICY RESEARCHPOLICY RESEARCH WORKING PAPERPOLICY RESPONSEPOLITICAL ECONOMYPOLITICAL INSTABILITYPOLITICAL RIGHTSPOLITICAL STABILITYPOOR COUNTRIESPOPULATION AND DEVELOPMENTPOPULATION DECLINESPOPULATION DYNAMICSPOPULATION GROWTHPOPULATION INCREASESPOPULATION MATTERSPOPULATION RESEARCHPOVERTY REDUCTIONPRIVATE CAPITALPRIVATE CAPITAL FLOWSPRIVATE INVESTMENTPRODUCTION FUNCTIONPRODUCTIVITY CHANGEPRODUCTIVITY GROWTHPROMOTING GROWTHPUBLIC INVESTMENTRAPID GROWTHRELATIVE CONTRIBUTIONRELATIVE IMPORTANCEREMITTANCESRESPECTRICH COUNTRIESRULE OF LAWSAVINGSSEXSHARE OF CAPITALSHARE OF LABORSKILLED LABORSOCIAL CAPITALSOCIAL PROTECTIONSTATISTICAL DATASURPLUS LABORSUSTAINABLE DEVELOPMENTSUSTAINABLE GROWTHTECHNICAL CHANGETECHNOLOGICAL PROGRESSTFPTOTAL FACTOR PRODUCTIVITYTOTAL FACTOR PRODUCTIVITY GROWTHTRADE DEFICITTRADE OPENNESSUNDERESTIMATESWARWEALTHWORKFORCEWORKING-AGE POPULATIONWORLD DEVELOPMENT INDICATORS10.1596/1813-9450-6862