The Role of Capital Accumulation, Adjustment and Structural Change for Economic Take-Off: Empirical Evidence from African Growth Episodes
In this study, we analyse extended periods of growth in Africa based on panel estimations from 27 African countries during the 1960-1996 period. Only a dozen of such rapid growth episodes are observable in Africa since 1960, and several of them eventually came to an end. We use all existing informat...
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| Other Authors: | |
| Format: | Electronic eBook |
| Language: | English |
| Published: |
Paris
OECD Publishing
1999
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| Series: | OECD Development Centre Working Papers
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| Subjects: | |
| Online Access: | Volltext |
| Summary: | In this study, we analyse extended periods of growth in Africa based on panel estimations from 27 African countries during the 1960-1996 period. Only a dozen of such rapid growth episodes are observable in Africa since 1960, and several of them eventually came to an end. We use all existing information on macroeconomic performance in Africa in a comparative manner, in order to assess the sustainability of current growth episodes. Our main conclusion is that sustainable growth needs to be based on a balanced mix of capital accumulation, macroeconomic adjustment and structural change. In addition to more commonly used determinants of Total Factor Productivity, we construct a measure for the effect of labour reallocation as well as an index of economic diversification and estimate the impact of the latter on long-term growth. We also build an analysis of investment behaviour, which is influenced by Total Factor Productivity gains, while influencing economic growth directly through ... |
| Physical Description: | 1 Online-Ressource (36 Seiten) 21 x 29.7cm |
| DOI: | 10.1787/518867170562 |
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| spelling | Berthélemy, Jean-Claude Verfasser aut The Role of Capital Accumulation, Adjustment and Structural Change for Economic Take-Off Empirical Evidence from African Growth Episodes Jean-Claude Berthélemy and Ludvig Söderling Paris OECD Publishing 1999 1 Online-Ressource (36 Seiten) 21 x 29.7cm txt rdacontent c rdamedia cr rdacarrier OECD Development Centre Working Papers In this study, we analyse extended periods of growth in Africa based on panel estimations from 27 African countries during the 1960-1996 period. Only a dozen of such rapid growth episodes are observable in Africa since 1960, and several of them eventually came to an end. We use all existing information on macroeconomic performance in Africa in a comparative manner, in order to assess the sustainability of current growth episodes. Our main conclusion is that sustainable growth needs to be based on a balanced mix of capital accumulation, macroeconomic adjustment and structural change. In addition to more commonly used determinants of Total Factor Productivity, we construct a measure for the effect of labour reallocation as well as an index of economic diversification and estimate the impact of the latter on long-term growth. We also build an analysis of investment behaviour, which is influenced by Total Factor Productivity gains, while influencing economic growth directly through ... Development Söderling, Ludvig ctb https://doi.org/10.1787/518867170562 Verlag kostenfrei Volltext |
| spellingShingle | Berthélemy, Jean-Claude The Role of Capital Accumulation, Adjustment and Structural Change for Economic Take-Off Empirical Evidence from African Growth Episodes Development |
| title | The Role of Capital Accumulation, Adjustment and Structural Change for Economic Take-Off Empirical Evidence from African Growth Episodes |
| title_auth | The Role of Capital Accumulation, Adjustment and Structural Change for Economic Take-Off Empirical Evidence from African Growth Episodes |
| title_exact_search | The Role of Capital Accumulation, Adjustment and Structural Change for Economic Take-Off Empirical Evidence from African Growth Episodes |
| title_exact_search_txtP | The Role of Capital Accumulation, Adjustment and Structural Change for Economic Take-Off Empirical Evidence from African Growth Episodes |
| title_full | The Role of Capital Accumulation, Adjustment and Structural Change for Economic Take-Off Empirical Evidence from African Growth Episodes Jean-Claude Berthélemy and Ludvig Söderling |
| title_fullStr | The Role of Capital Accumulation, Adjustment and Structural Change for Economic Take-Off Empirical Evidence from African Growth Episodes Jean-Claude Berthélemy and Ludvig Söderling |
| title_full_unstemmed | The Role of Capital Accumulation, Adjustment and Structural Change for Economic Take-Off Empirical Evidence from African Growth Episodes Jean-Claude Berthélemy and Ludvig Söderling |
| title_short | The Role of Capital Accumulation, Adjustment and Structural Change for Economic Take-Off |
| title_sort | the role of capital accumulation adjustment and structural change for economic take off empirical evidence from african growth episodes |
| title_sub | Empirical Evidence from African Growth Episodes |
| topic | Development |
| topic_facet | Development |
| url | https://doi.org/10.1787/518867170562 |
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