Sources of Growth in the Democratic Republic of the Congo: A Cointegration Approach

Akitoby, Bernardin; Cinyabuguma, Matthias M.

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Sources of Growth in the Democratic Republic of the Congo: A Cointegration Approach

IMF Working Paper No. 04/114

32 Pages Posted: 15 Feb 2006

See all articles by Bernardin Akitoby

Bernardin Akitoby

International Monetary Fund (IMF) - Fiscal Affairs Department

Matthias M. Cinyabuguma

University of Maryland, Baltimore County (UMBC) - Department of Economics

Date Written: July 2004

Abstract

The paper investigates the sources of growth in the Democratic Republic of the Congo since 1960 and evaluates the relative importance of total factor productivity growth and factor accumulation, using a cointegration method and a growth accounting framework. The main findings confirm that poor economic policies and bad governance (through their effects on total factor productivity and capital accumulation) contributed to the country`s economic decline during the 40-year period, 1960-2000. Looking forward, the paper finds that the right policies are being put in place to pave the way for a restoration of economic growth.

Keywords: Congo, growth accounting, TFP, production function, cointegration

JEL Classification: E25, O47

Suggested Citation: Suggested Citation

Akitoby, Bernardin and Cinyabuguma, Matthias M., Sources of Growth in the Democratic Republic of the Congo: A Cointegration Approach (July 2004). IMF Working Paper No. 04/114, Available at SSRN: https://ssrn.com/abstract=878938