Abstract/Details

Explaining Sub-Sahara Africa's recent economic growth acceleration


2011 2011

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Abstract (summary)

Economic growth and poverty reduction in sub Sahara Africa have dominated theoretical and empirical debate for a long time. In the empirical literature, researchers have stressed different views to explain the recent growth episode in the region.

The current study uses a panel of 45 countries with four year averages over the period 1996 to 2008 to identify the key determinants of the recent growth acceleration in sub-Sahara Africa. Among the major conclusions emerging from the study is that foreign direct investment, foreign aid, private investment, and human capital growth had the largest positive and robustly significant impacts on per capita GDP growth during this period. Improved governance and terms of trade also had a positive and moderately significant impact on the recent growth, but do not explain much of the growth acceleration.

Higher ethnic fractionalization, inflation, HIV/AIDS, and unsustainable foreign debt had negative and moderately significant impact on growth. It appears that ethnic fractionalization reduces human capital investment and to a lesser extent the efficiency of institutions. The disaggregation of investment in to private and public investments clearly indicates that private investment has a greater impact on growth than public investment.

The overall policy implication is that sub-Saharan African governments must establish and maintain economic policies that raise the ratio of private and public investment to GDP, promote human capital development, increase foreign direct investment, increase trade openness, increase foreign aid, reduce inflation, and improve governance. The study also discussed a policy framework to promote sustainable growth and reduce poverty in sub-Sahara Africa.

Indexing (details)


Subject
Economics;
Economic theory;
Sub Saharan Africa Studies
Classification
0501: Economics
0511: Economic theory
0639: Sub Saharan Africa Studies
Identifier / keyword
Social sciences; Contagion; Economic growth; Ethnic fractionalization; Foreign direct investment; Growth acceleration; Panel regression; Private investment; Sub-Saharan
Title
Explaining Sub-Sahara Africa's recent economic growth acceleration
Author
Bekit, Ocbamariam
Number of pages
189
Publication year
2011
Degree date
2011
School code
0072
Source
DAI-A 72/07, Dissertation Abstracts International
Place of publication
Ann Arbor
Country of publication
United States
ISBN
9781124610276
Advisor
McLeod, Darryl
University/institution
Fordham University
University location
United States -- New York
Degree
Ph.D.
Source type
Dissertations & Theses
Language
English
Document type
Dissertation/Thesis
Dissertation/thesis number
3452798
ProQuest document ID
866614772
Copyright
Database copyright ProQuest LLC; ProQuest does not claim copyright in the individual underlying works.
Document URL
http://search.proquest.com/docview/866614772
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