Download Africa at a Turning Point?: Growth, Aid, and External Shocks by Delfin Sia Go, John Page PDF

By Delfin Sia Go, John Page

Sub-Saharan Africa (Africa) is the area s largest improvement problem. a lot of the continent ignored twenty years of monetary growth among 1975 and 1995, with the outcome that common source of revenue consistent with individual was once nearly unchanged among independence and the flip of the twenty first Century. Lagging at the back of the remainder of the constructing global in approximately each indicator of human health, it's also the continent the place, on present projections, lots of the international financial institution millennium improvement objectives (MDGs) are not likely to be met. but, there's renewed wish lately. because the mid-1990s, an acceleration of financial development in a lot of Africa has produced emerging earning and swifter human improvement. This development acceleration has raised questions and expectancies approximately Africa s improvement. Is there a turnaround in Africa s economic climate? what's going to confirm no matter if progress persists? Africa at a Turning aspect appears to be like at interrelated elements of Africa's contemporary monetary revival. It examines Africa's fresh progress within the context of its lengthy background of development accelerations, and collapses and seeks to respond to a number of questions - Is Africa certainly at a turning aspect? Have African international locations discovered from earlier coverage and institutional blunders? And are the industrial basics eventually pointing in the direction of extra sustainable progress? It bargains with the ongoing value of donor flows for Africa, addressing such concerns as dealing with and offering better reduction, and the historical past and volatility of donor flows. As crude oil costs achieve new highs, it additionally addresses the influence of commodity expense shocks on output variability in African international locations; how oil exporting nations can deal with their new oil wealth; and the potential monetary and distributional affects of upper oil costs on oil uploading international locations.

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Additional resources for Africa at a Turning Point?: Growth, Aid, and External Shocks (World Bank Development Essays)

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1): The Gambia, Liberia, São Tomé and Principe, and Sierra Leone. Regional Groupings There are several overlapping regional groupings in sub-Saharan Africa. 9 percent, respectively, during 2004–06. The Southern African Development Community (SADC)16 and the Economic Community of West African States (ECOWAS)17 did as well as the regional average in recent years. 19 In sum, there is therefore evidence that economic growth is accelerating and registering across several types of countries, not just oil-exporting and resource-rich countries, but also oil-importing, landlocked, and—to some extent—fragile countries.

Is the growth robust and supported by improvements in the economic fundamentals? What major risks and challenges remain? Will Africa attain the Millennium Development Goals by 2015? 13 14 ARBACHE, GO, AND PAGE The rest of the chapter looks at these questions and is organized as follows. The recent acceleration of growth in Africa is discussed in the next section. Then, the growth diagnostics in the following section carefully examine the differences since 1995, the likely causes of the recent growth, and its robustness.

1): The Gambia, Liberia, São Tomé and Principe, and Sierra Leone. Regional Groupings There are several overlapping regional groupings in sub-Saharan Africa. 9 percent, respectively, during 2004–06. The Southern African Development Community (SADC)16 and the Economic Community of West African States (ECOWAS)17 did as well as the regional average in recent years. 19 In sum, there is therefore evidence that economic growth is accelerating and registering across several types of countries, not just oil-exporting and resource-rich countries, but also oil-importing, landlocked, and—to some extent—fragile countries.

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