Raising Growth and Investment in Sub-Saharan Africa: What Can be Done?

May 1, 2000

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Ernesto Hernández-Catá. Raising Growth and Investment in Sub-Saharan Africa: What Can be Done?, (USA: International Monetary Fund, 2000) accessed November 21, 2024

Disclaimer: This Policy Dicussion Paper should not be reported as representing the views of the IMF.The views expressed in this Working Paper are those of the author(s) and do not necessarily represent those of the IMF or IMF policy. Working Papers describe research in progress by the author(s) and are published to elicit comments and to further debate

Summary

This paper argues that sub-Saharan Africa’s growth performance needs to be improved substantially in order to raise standards of living to an acceptable level and achieve a visible reduction in poverty. The paper provides a broad overview of the explanations for sub-Saharan Africa’s unsatisfactory growth performance in the past, paying particular attention to the empirical literature. It argues that growth has been hampered by economic distortions and institutional deficiencies that have increased the risk of investing in Africa, and lowered the rates of return on capital and labor as well as the growth of total factor productivity.

Subject: Infrastructure, National accounts, Poverty, Poverty reduction, Poverty reduction and development, Poverty reduction strategy, Private investment

Keywords: Africa, Country, Fund program, Fund staff, Growth, Infrastructure, International community, Investment, Investment ratio, Liberalization, PDP, Poverty, Poverty reduction, Poverty reduction and development, Poverty reduction strategy, Private investment, Rate of return, Sub-Saharan Africa, Trade liberalization, Trade performance

Publication Details

Pages:

27
Volume:

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DOI:

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Issue:

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Series:

Policy Discussion Paper No. 2000/004
Stock No:

PPIEA0042000
ISBN:

9781451973518
ISSN:

1564-5193

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