World Bank2015-11-162015-11-162000-04-30978-0-8213-4495-8https://hdl.handle.net/10986/22962Major changes are needed if Africans and their children are to claim the 21st century. With the rapidly growing population, 5 percent annual growth is needed simply to keep the number of poor from rising. Halving severe poverty by 2015 will require annual growth of more than 7 percent, along with a more equitable distribution of income. Trends in Africa will need to change radically for a catch-up process to materialize. This will require determined leadership within Africa. It will require better governance developing stable and representative constitutional arrangements, implementing the rule of law, managing resources transparently, and delivering services effectively to communities and firms. It will require greater investment in Africas people as well as measures that encourage private investment in infrastructure and production. And it will require better support and perhaps more support from the international development community. In facing these challenges, Africa has enormous potential including the potential of its women, who now provide more than half of the regions labor but lack equal access to education and factors of production. This report brings together the recent body of work particularly that emanating from Africa itself to show how some African countries are approaching common issues. African economies and sub-regions are diverse and each will have to find its way to address the challenges of the 21st century.en-USCC BY 3.0 IGOECONOMIC CIRCUMSTANCESCAPITAL MARKETSFISHUNEMPLOYMENT RATESSTRUCTURAL ADJUSTMENTECONOMIC GROWTHENVIRONMENTAL PROTECTIONPOLICY ENVIRONMENTENVIRONMENTAL DEGRADATIONAGRICULTURAL PRODUCTIONEXPECTATIONSECONOMIC CONSEQUENCESMARKET FACTORSPRODUCERSRESOURCE MANAGEMENTPROPERTY RIGHTSBALANCE OF PAYMENTSECONOMIC PROCESSESFINANCIAL RESOURCESRESOURCE ALLOCATIONLABOR FORCEMARGINAL PRODUCTPOLITICAL ECONOMYEFFECTIVE STRATEGYREVENUESECONOMIC PROBLEMSINCENTIVESAGRICULTURAL PROTECTIONENVIRONMENTAL RESOURCESEQUILIBRIUMSOIL PRODUCTIVITYPRODUCTIVE RESOURCESMODELSREAL WAGESSUSTAINABLE DEVELOPMENTCONDITIONALITYAGRICULTURAL OUTPUTCDFECONOMIC ANALYSISDEVELOPED COUNTRIESAUDITSRESOURCE USEECONOMIC ACTIVITYPRESENT VALUEFISCAL POLICIESOIL PRICESCLIMATIC CONDITIONSEXPLOITATIONARABLE LANDCOMMUNAL PROPERTYLABOR COSTSOILINPUT USEFOOD POLICY RESEARCHNATURAL CAPITALPOPULATION GROWTHIRREVERSIBILITYCAPITAL FORMATIONFIXED COSTSOPTIONSLABOR PRODUCTIVITYEXTERNALITIESQUOTASMARKET LIBERALIZATIONDEBTALLOCATIVE EFFICIENCYCENTRAL GOVERNMENTSFORESTRYLAND RESOURCESWELFARE GAINSECONOMIC POLICIESDIVIDENDSNATURAL RESOURCESECONOMIC SPECIALIZATIONMETALSSUBSIDIESEFFICIENCYFOOD PRODUCTIONTAXESACCESS TO INFORMATIONLAND USECAPITAL CONSTRAINTSEFFECTIVE USEGOVERNMENT SECURITIESRESOURCESNATURAL MONOPOLIESUNEMPLOYMENTPOTENTIAL INVESTORSDEREGULATIONDEMOGRAPHIC TRANSITIONEQUITYPRODUCTIVITY GROWTHCONSUMPTIONTECHNOLOGICAL CHANGEECONOMIC IMPACTRURAL COMMUNITIESWAGESECONOMIC BEHAVIORVALUESINDUSTRIAL EXPANSIONECONOMIC POLICY REFORMCREDITQUALITY STANDARDSPURCHASING POWERDEFORESTATIONDEMANDNATIONAL INCOMEMINESSUSTAINABLE GROWTHPRICE CHANGESENVIRONMENTSEXPENDITURESPUBLIC GOVERNANCEPROPERTYTAX RATESAGRICULTURAL SYSTEMSTRANSACTION COSTSENVIRONMENTSOIL DEGRADATIONECONOMICSTERMS OF TRADESECURITIESTAX REVENUECAPITAL GOODSNATURAL RESOURCE BASEFISHERIESECONOMIC FACTORSECONOMIC DEVELOPMENTTRADELANDLAND PRODUCTIVITYECONOMIES OF SCALECOMPARATIVE ANALYSISTRADE TAXESCOMMERCIAL BANKSCOMPARATIVE ADVANTAGEFARMSECOLOGYCOMPETITIVE MARKETSOIL RESERVESAGRICULTURAL SUBSIDIESREVENUEPRIVATE CONSUMPTIONRISK MANAGEMENTWILLINGNESS TO ACCEPTECONOMISTSINTERMEDIATE INPUTSPROFITSPRODUCTION PATTERNSENVIRONMENTALLABOR MARKETSAPPROPRIATE TECHNOLOGYPUBLIC GOODPRICESDEMOGRAPHICSECONOMIC CONDITIONSECONOMIESPUBLIC GOODSCOMPETITIONENVIRONMENTAL POLICIESBookWorld Bank10.1596/978-0-8213-4495-8https://doi.org/10.1596/978-0-8213-4495-8