Growth Strategies for Africa

Growth Strategies for Africa

Over the past four decades Africa has diverged from other developing regions and is now the poorest region in the world. This paper offers an explanation of Africa's slow growth in terms of its distinctive economic and human geography: its hig...

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Bibliographic Details
Main Author:	Collier, Paul
Format:	Working Paper
Language:	English en_US
Published:	World Bank, Washington, DC 2017
Subjects:	ABSOLUTE ADVANTAGE ADVERSE EFFECT ADVERSE EFFECTS ADVERSE SELECTION AGGLOMERATION ECONOMIES AGRICULTURAL POPULATION AGRICULTURE AIR AIR SERVICE AIR SERVICES AIR TRAFFIC AIR TRANSPORT ANNUAL GROWTH APARTHEID ARTERIES BANKING SYSTEMS BENCHMARKS CAPITAL ACCUMULATION CAPITAL INVESTMENT CENTRAL BANK CENTRAL BANKS CHINESE POPULATION CITIZENS CIVIL WAR CLIMATE CHANGE COMMODITIES COMMODITY COMMODITY EXPORTS COMMODITY PRICES COMPARATIVE ADVANTAGE COMPETITION POLICIES COMPETITION POLICY COMPETITIVENESS CONSUMPTION LEVELS COSTS OF TRANSPORT DEBT DEMAND CURVE DEMOCRACIES DEMOCRACY DEMOGRAPHIC DEMOGRAPHIC GROWTH DEMOGRAPHIC TRANSITION DEREGULATION DEVALUATION DEVELOPING COUNTRIES DISEASE VECTORS DISEASES DISINFLATION DRIVING DUTCH DISEASE E-TRADE ECONOMIC DEVELOPMENT ECONOMIC GEOGRAPHY ECONOMIC OPPORTUNITY ECONOMIC PERFORMANCE ECONOMIC POLICIES ECONOMIC POLICY ECONOMIC REFORM ECONOMIC STATISTICS ECONOMIES OF SCALE ETHNIC GROUP EXCHANGE RATE EXCHANGE RATE APPRECIATION EXCHANGE RATES EXPORT COMMODITIES EXPORT COMPETITIVENESS EXPORT INCOME EXPORT MARKETS EXPORT PROCESSING ZONES EXPORT SECTOR EXPORTS EXTERNAL TRADE EXTERNAL TRADE BARRIERS EXTERNALITIES EXTERNALITY FEWER CHILDREN FINANCIAL SERVICES FISCAL DEFICIT FISCAL POLICIES FISCAL POLICY FLOWS OF PEOPLE FOREIGN CURRENCY FREE TRADE FREE TRADE AREA FREIGHT FUTURE PROSPECTS GDP GDP PER CAPITA GLOBAL INTEGRATION GLOBAL MARKETS GLOBAL STANDARDS GLOBALIZATION GOVERNMENT REGULATION GROWTH PERFORMANCE GROWTH PERFORMANCES GROWTH RATE GROWTH RATES HOUSEHOLD SURVEYS HUMAN DEVELOPMENT HUMAN GEOGRAPHY IMMIGRANTS IMPORT INCOME INCOME EFFECT INCOMES INDIVIDUAL FIRMS INFLATION INTENSIVE INDUSTRIES INTEREST RATES INTERNATIONAL ACTION INTERNATIONAL ASSISTANCE INTERNATIONAL COMMUNITY INTERNATIONAL MARKETS INTERNATIONAL PRICES INTERNATIONAL TRADE INTERNATIONAL TRANSPORT INVENTORIES LABOR FORCE LEGAL STATUS LEVEL OF EDUCATION LIVING STANDARDS LOCAL CURRENCY LONG-RUN EQUILIBRIUM LOW-INCOME COUNTRIES MACROECONOMIC INDICATORS MARKET SHARE MIDDLE INCOME COUNTRY MINORITY MISMANAGEMENT MISUNDERSTANDING MONEY SUPPLY MONOPOLIES NATIONAL ACTIONS NATIONAL BORDERS NATIONAL CURRENCIES NATIONAL LEVEL NATIONAL SOVEREIGNTY NATURAL RESOURCE NATURAL RESOURCES OIL EXPORTS OUTPUT OVERVALUATION PATRONAGE PEACE PER CAPITA INCOME POLICY DECISIONS POLICY MAKERS POLITICAL BUSINESS CYCLE POLITICAL ECONOMY POLITICAL PARTIES POLITICAL PROCESS POLITICAL SUPPORT POLITICAL SYSTEM POPULATION DENSITY POVERTY REDUCTION PRACTITIONERS PRIMARY EDUCATION PRODUCTIVE ASSETS PRODUCTIVITY GROWTH PROGRESS PUBLIC GOOD PUBLIC POLICY PUBLIC RELATIONS PUBLIC SERVICE PUBLIC SERVICES PUBLIC SPENDING RAPID DEVELOPMENT RAPID ECONOMIC GROWTH RAPID GROWTH RAPID INDUSTRIALIZATION RAPID POPULATION GROWTH RATE OF RETURN REAL APPRECIATION REAL EXCHANGE RATE REAL GDP REAL INCOME REFUGEES REGIME CHANGE REGIONAL ACTION REGIONAL INTEGRATION REGIONAL MARKET REGIONAL TRADE REMITTANCES REPUTATION REPUTATIONS RESPECT RISK FACTORS ROAD ROADS ROUTE RURAL DEVELOPMENT SAVINGS SERVICE DELIVERY SERVICE PROVISION SLOW GROWTH SMALL COUNTRIES SOCIAL COSTS SPILLOVER STATE FAILURE SUSTAINABLE CONSUMPTION TAX TAXATION TECHNICAL ASSISTANCE TELECOMMUNICATIONS TELECOMMUNICATIONS INFRASTRUCTURE TERRORIST TERTIARY EDUCATION TOLLS TOTAL EXPORT TOTAL REVENUE TRADE BARRIERS TRADE BLOC TRADE DIVERSION TRADE LIBERALIZATION TRADE POLICIES TRADE POLICY TRADE RESTRICTIONS TRADE TAXES TRAINS TRANSPARENCY TRANSPARENCY INITIATIVE TRANSPORT COSTS TRANSPORT INFRASTRUCTURE TRUE URBANIZATION VOLATILE ECONOMIES VOLATILITY VOLUME OF TRAFFIC VOTERS WEIGHTS WORLD PRICES YOUNG MEN
Online Access:	http://documents.worldbank.org/curated/en/871591468008113955/Growth-strategies-for-Africa http://hdl.handle.net/10986/28011

Description
Summary:	Over the past four decades Africa has diverged from other developing regions and is now the poorest region in the world. This paper offers an explanation of Africa's slow growth in terms of its distinctive economic and human geography: its high dependence upon natural resource exports, the many landlocked countries, and the high ethnic diversity of the typical state. It discusses how key economic policy choices, especially trade and fiscal policy, and assistance from the international community, need to tailored specifically to these distinctive circumstances. Part one of this paper sets out an explanation for why this happened and whether it is likely to recur, using the building blocks of economic geography. Africa is distinctive both in its physical geography and its human geography and these have shaped its opportunities. Part one has three sections. Section two considers the implications of Africa's distinctive physical geography. It accounts for some of Africa's slow growth and suggests how strategies will need to differ radically among Africa's countries. In section three author turn to its distinctive human geography and the political problems that this has created. To a considerable extent these problems recently have been surmounted: Africa's human geography may explain delayed take-off rather than predict persistent stagnation. Finally, in section four, author consider three interactions between physical geography and human geography that generate intractable problems that are likely to require both regional action and international assistance in various forms. Part two uses the analysis of part one to consider policy options. Section five discusses options for African governments. Section six focuses on the supporting actions that can be taken by governments outside Africa and by international agencies. Section seven offers a brief conclusion.

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