Sources of Growth in Sub-Saharan Africa

By Brou E Aka, Bernardin Akitoby, Amor Tahari, Dhaneshwar Ghura

September 1, 2004

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Brou E Aka, Bernardin Akitoby, Amor Tahari, and Dhaneshwar Ghura. Sources of Growth in Sub-Saharan Africa, (USA: International Monetary Fund, 2004) accessed November 14, 2024

Disclaimer: This Working 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

Analysis of 1960-2002 data shows that average real GDP growth in sub-Saharan Africa was low and decelerated continuously before starting to recover in the second part of the 1990s. Growth was driven primarily by factor accumulation with little role for total factor productivity (TFP) growth. The recent pickup in economic growth was accompanied by an increase in TFP growth, namely in the group of countries whose IMF-supported programs were judged to be on track. Average annual growth in the region, at 3½ percent during 1997-2002, is less than half of the estimated growth needed to halve the fraction of population living below $1 per day between 1990 and 2015, one of the Millennium Development Goals.

Subject: Economic growth, Growth accounting, Labor, Production, Total factor productivity

Keywords: Africa, CFA franc, Country, East Asia, Growth Accounting, Growth in the region, Growth Prospects, Investment-GDP ratio, Real GDP, Sub-Saharan Africa, Tertiary sector, TFP decline, Total factor productivity, WP

Publication Details

Pages:

31
Volume:

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DOI:

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Issue:

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Series:

Working Paper No. 2004/176
Stock No:

WPIEA1762004
ISBN:

9781451858846
ISSN:

1018-5941

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