The Prospects for Sustained Growth in Africa: Benchmarking the Constraints
A dozen countries had weak institutions in 1960 and yet sustained high rates of growth subsequently. We use data on their characteristics early in the growth process to create benchmarks with which to evaluate potential constraints on sustained growth for sub-Saharan Africa. This analysis suggests t...
Gespeichert in:
| 1. Verfasser: | |
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| Format: | Elektronisch E-Book |
| Sprache: | English |
| Veröffentlicht: |
Washington, D.C
International Monetary Fund
2007
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| Schriftenreihe: | IMF Working Papers
Working Paper No. 07/52 |
| Online-Zugang: | UBW01 UEI01 LCO01 SBR01 UER01 SBG01 UBG01 FAN01 UBT01 FKE01 UBY01 UBA01 FLA01 UBM01 UPA01 UBR01 FHA01 FNU01 BSB01 TUM01 Volltext |
| Zusammenfassung: | A dozen countries had weak institutions in 1960 and yet sustained high rates of growth subsequently. We use data on their characteristics early in the growth process to create benchmarks with which to evaluate potential constraints on sustained growth for sub-Saharan Africa. This analysis suggests that what are usually regarded as first-order problems-broad institutions, macroeconomic stability, trade openness, education, and inequality-may not now be binding constraints in Africa, although the extent of ill-health, internal conflict, and societal fractionalization do stand out as problems in contemporary Africa. A key question is to what extent Africa can rely on manufactured exports as a mode of ""escape from underdevelopment,"" a strategy successfully deployed by almost all the benchmark countries. The benchmarking comparison specifically raises two key concerns as far as a development strategy based on expanding exports of manufactures is concerned: micro-level institutions that affect the costs of exporting, and the level of the real exchange rate-especially the need to avoid overvaluation |
| Beschreibung: | 1 Online-Ressource (57 p) |
| ISBN: | 145186616X 9781451866162 |
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| illustrated | Not Illustrated |
| index_date | 2024-07-03T20:13:22Z |
| indexdate | 2024-07-10T09:35:31Z |
| institution | BVB |
| isbn | 145186616X 9781451866162 |
| language | English |
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| record_format | marc |
| series2 | IMF Working Papers |
| spelling | Subramanian, Arvind Verfasser aut The Prospects for Sustained Growth in Africa Benchmarking the Constraints Subramanian, Arvind Washington, D.C International Monetary Fund 2007 1 Online-Ressource (57 p) txt rdacontent c rdamedia cr rdacarrier IMF Working Papers Working Paper No. 07/52 A dozen countries had weak institutions in 1960 and yet sustained high rates of growth subsequently. We use data on their characteristics early in the growth process to create benchmarks with which to evaluate potential constraints on sustained growth for sub-Saharan Africa. This analysis suggests that what are usually regarded as first-order problems-broad institutions, macroeconomic stability, trade openness, education, and inequality-may not now be binding constraints in Africa, although the extent of ill-health, internal conflict, and societal fractionalization do stand out as problems in contemporary Africa. A key question is to what extent Africa can rely on manufactured exports as a mode of ""escape from underdevelopment,"" a strategy successfully deployed by almost all the benchmark countries. The benchmarking comparison specifically raises two key concerns as far as a development strategy based on expanding exports of manufactures is concerned: micro-level institutions that affect the costs of exporting, and the level of the real exchange rate-especially the need to avoid overvaluation Online-Ausg Johnson, Simon Sonstige oth Ostry, Jonathan David Sonstige oth http://elibrary.imf.org/view/IMF001/07234-9781451866162/07234-9781451866162/07234-9781451866162.xml Verlag URL des Erstveröffentlichers Volltext |
| spellingShingle | Subramanian, Arvind The Prospects for Sustained Growth in Africa Benchmarking the Constraints |
| title | The Prospects for Sustained Growth in Africa Benchmarking the Constraints |
| title_auth | The Prospects for Sustained Growth in Africa Benchmarking the Constraints |
| title_exact_search | The Prospects for Sustained Growth in Africa Benchmarking the Constraints |
| title_exact_search_txtP | The Prospects for Sustained Growth in Africa Benchmarking the Constraints |
| title_full | The Prospects for Sustained Growth in Africa Benchmarking the Constraints Subramanian, Arvind |
| title_fullStr | The Prospects for Sustained Growth in Africa Benchmarking the Constraints Subramanian, Arvind |
| title_full_unstemmed | The Prospects for Sustained Growth in Africa Benchmarking the Constraints Subramanian, Arvind |
| title_short | The Prospects for Sustained Growth in Africa |
| title_sort | the prospects for sustained growth in africa benchmarking the constraints |
| title_sub | Benchmarking the Constraints |
| url | http://elibrary.imf.org/view/IMF001/07234-9781451866162/07234-9781451866162/07234-9781451866162.xml |
| work_keys_str_mv | AT subramanianarvind theprospectsforsustainedgrowthinafricabenchmarkingtheconstraints AT johnsonsimon theprospectsforsustainedgrowthinafricabenchmarkingtheconstraints AT ostryjonathandavid theprospectsforsustainedgrowthinafricabenchmarkingtheconstraints |