Temporary Acceleration or Permanent Growth Take-Off? An Analysis of the Drivers of Economic Growth in Sub-Saharan Africa
20 Pages Posted: 13 Jan 2015
Date Written: January 12, 2015
Abstract
In view of the remarkable growth performance of sub-Saharan African countries since the mid-1990s, we investigate the drivers of economic growth in the region. Above all, we find that more investment, enhanced macroeconomic stability, less conflicts, improved terms of trade, and better institutions have contributed to this growth performance. Yet a structural transformation from agriculture towards labour-intensive manufacturing has not happened so far. It is therefore questionable whether the region’s relatively high growth rates can be sustained in the long run.
Keywords: Sub-Saharan Africa; Economic Growth; Structural Transformation
JEL Classification: O11; O47; O55
Suggested Citation: Suggested Citation