Arbache, Jorge SabaPage, John2012-06-082012-06-082007-11https://hdl.handle.net/10986/7586Using the most recent purchasing power parity data for 44 sub-Saharan African countries, this paper examines the characteristics of long run growth in Africa between 1975 and 2005. The authors investigate the following issues: cross-country income structure, income convergence, the country level distribution of income, growth and income persistence, and formation of convergence clubs.CC BY 3.0 IGOABUNDANCEAGGREGATE DEMANDAGRICULTUREAMERICAN ECONOMIC REVIEWANNUAL GROWTHANNUAL GROWTH RATEAVERAGE ANNUALAVERAGE GROWTHAVERAGE GROWTH RATEAVERAGE INCOMEBENCHMARKBENCHMARKINGBUDGET DEFICITSCAPITA GROWTHCAPITAL ACCUMULATIONCAPITAL FORMATIONCAPITAL INVESTMENTCAPITAL INVESTMENTSCOMPETITIVE EXCHANGECOMPETITIVE EXCHANGE RATESCONVERGENCE HYPOTHESISCORRELATION COEFFICIENTCORRELATION COEFFICIENTSCOUNTRY DATACOUNTRY DUMMIESCOUNTRY GROWTH PERFORMANCECOUNTRY INDEXCOUNTRY LEVELCOUNTRY VARIATIONCROSS COUNTRYCROSS COUNTRY EVIDENCECROSS-COUNTRY DATACROSS-COUNTRY INCOMEDATA SETSDEBTDEPENDENT VARIABLEDESCRIPTIVE STATISTICSDETERMINANTS OF GROWTHDEVELOPING COUNTRIESDEVELOPING REGIONSDEVELOPMENT ECONOMICSDEVELOPMENT INDICATORSDEVELOPMENT OUTCOMESDIVERSIFICATIONECONOMETRIC ISSUESECONOMETRICSECONOMIC ACTIVITYECONOMIC CRISISECONOMIC DECLINEECONOMIC DEVELOPMENTECONOMIC ENVIRONMENTECONOMIC GROWTHECONOMIC INSTABILITYECONOMIC OUTCOMESECONOMIC PERFORMANCEECONOMIC POTENTIALECONOMIC SHOCKSECONOMIC STAGNATIONECONOMIC TRENDSECONOMICS RESEARCHEMPIRICAL EVIDENCEERROR TERMESTIMATED COEFFICIENTESTIMATED COEFFICIENTSEXCHANGE RATESEXPLANATORY VARIABLEEXPLANATORY VARIABLESEXPORT DIVERSIFICATIONEXPORTSEXTERNAL FACTORSEXTERNAL SHOCKSEXTERNALITIESFINANCIAL DEVELOPMENTFINANCIAL MARKETSFINANCIAL SECTORFIRST YEARFISCAL POLICIESFLUCTUATIONSFOREIGN AIDFOREIGN DEMANDFOREIGN TRADEGDPGDP PER CAPITAGLOBAL ECONOMYGROSS DOMESTIC PRODUCTGROWTH ACCELERATIONGROWTH ACCELERATIONSGROWTH ACCOUNTINGGROWTH DATAGROWTH EFFECTGROWTH MEANGROWTH MEANSGROWTH MODELGROWTH MODELSGROWTH PATTERNGROWTH PERFORMANCEGROWTH PERFORMERSGROWTH PERSISTENCEGROWTH PROCESSGROWTH RATESGROWTH REGRESSIONSGROWTH SPELLSGROWTH STANDARD DEVIATIONGROWTH VOLATILITYHIGH GROWTHHIGH INCOMEHIGH INFLATIONHIGH VOLATILITYHUMAN CAPITALHUMAN DEVELOPMENTINCOMEINCOME CONVERGENCEINCOME DISTRIBUTIONINCOME GROWTHINCOME INEQUALITYINCOME LEVELSINCOME PER CAPITAINCREASING INCOME INEQUALITYINDEPENDENT VARIABLEINDEPENDENT VARIABLESINDIVIDUAL COUNTRIESINFLATIONINTERNAL FACTORSINTERNATIONAL MONETARY FUNDLIFE EXPECTANCYLINK BETWEEN VOLATILITYLONG RUNLONG-RUN GROWTHLONG-TERM GROWTHMACROECONOMIC PERFORMANCEMACROECONOMIC POLICIESMACROECONOMIC VOLATILITYMEAN GROWTHMEAN INCOMEMEASURES OF VOLATILITYMIDDLE CLASSMIDDLE EASTMIDDLE INCOMEMIDDLE INCOME COUNTRIESMIDDLE-INCOME COUNTRIESMONETARY ECONOMICSNATIONAL INCOMENATURAL RESOURCE ABUNDANCENATURAL RESOURCESNEGATIVE RELATIONSHIPNEW GROWTH LITERATURENORTH AFRICAOIL EXPORTEROIL EXPORTERSOUTPUT GROWTHOVERVALUED EXCHANGEOVERVALUED EXCHANGE RATEPER CAPITA GROWTHPER CAPITA INCOMEPER CAPITA INCOMESPOLICY RESEARCHPOLITICAL ECONOMYPOOR COUNTRIESPRIVATE SECTORPRODUCTIVITY CHANGEPRODUCTIVITY GROWTHPURCHASING POWERPURCHASING POWER PARITYREAL EXCHANGE RATEREGIONAL ECONOMYREMITTANCESRICH COUNTRIESSENSITIVITY ANALYSISSIGNIFICANT DIFFERENCESSIGNIFICANT IMPLICATIONSSIGNIFICANT RELATIONSHIPSOCIAL CONFLICTSSTAGNATIONSTANDARD DEVIATIONSTATE EQUILIBRIUMSTRUCTURAL BREAKSTRUCTURAL COUNTRY CHARACTERISTICSSUB-SAHARAN AFRICATOTAL FACTOR PRODUCTIVITYTRADE POLICIESTRADE SHOCKSUNDERDEVELOPED COUNTRIESVALUE ADDEDWEALTHWorld Bank10.1596/1813-9450-4398