An African Growth Miracle?

Citation:

An African Growth Miracle?. Journal of African Economies Advance Access. 2016. Copy at http://j.mp/2ow2j2d
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Date Published:

9 Dec 2016

Abstract:

SSA has grown rapidly over the last decade, but a curious feature of this growth was that it was accompanied by little structural change towards non-traditional tradables (such as manufactures). Now that China, the advanced economies, and most emerging markets are all slowing down, the question whether Africa’s high growth can be sustained looms larger. This article looks at this question from the lens of modern growth theory, paying particular attention to structural issues that are crucial for low-income countries. It comes down on the pessimistic side, due to what appear to be poor prospects for industrialization. This article also considers alternative models of growth, based on services instead of manufactures.

Notes:

Revised version of the paper written for the Center for Global Development, Richard H. Sabot Lecture, on April 24, 2014.

See also: Research Papers
Last updated on 12/21/2016