UID:
edocfu_9958107995202883
Format:
1 online resource (59 p.)
ISBN:
1-4623-9216-4
,
1-4527-6021-7
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1-283-51608-X
,
1-4519-1069-X
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9786613828538
Series Statement:
IMF working paper ; WP/07/52
Content:
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.
Note:
"March 2007."
,
At head of title: Research Department.
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Contents; I. Introduction; II. Constraints on Sustained Growth; A. Institutions; B. A Benchmarking Approach; C. Cases of Sustained Growth Accelerations; D. Why Did Manufacturing Exports Matter So Much (after 1960)?; E. Recent Literature on Accelerations and Sustained Growth; III. Recent African Growth Experience; IV. Are Institutions Likely to be a Constraint?; A. Broad or General Institutions; B. Costs of Doing Business; C. Conflict and Fractionalization; V. Trade Outcomes and Policies; A. Export Performance; B. Trade Liberalization; C. Exchange Rate Overvaluation
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D. Costs of Importing and ExportingVI. Other Potential Constraints; A. Education; B. Health and Infrastructure; VII. Assessment and Conclusion; Text Tables; 1a. Indicators for Selected sub-Saharan African Countries, 1996-2005: Income, Growth, and Population; 1b. Indicators for Sustained Growth Countries (SGs): Income, Growth, and Population; 2a. Indicators for Selected sub-Saharan African Countries: Institutions and Costs of Doing Business; 2b. Indicators for Sustained Growth Countries (SGs): Institutions and Costs of Doing Business
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3a. Indicators for Selected sub-Saharan African Countries: Conflicts3b. Indicators for Sustained Growth Countries (SGs): Conflicts; 4a. Indicators for Selected sub-Saharan African Countries: Social Fractionalization; 4b. Indicators for Sustained Growth Countries (SGs): Social Fractionalization; 5a. Indicators for Selected sub-Saharan African Countries: Trade Outcomes; 5b. Indicators for Sustained Growth Countries (SGs): Trade Outcomes; 6a. Indicators for Selected sub-Saharan African Countries: Macroeconomic and Trade Policies and Outcomes
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6b. Indicators for Sustained Growth Countries (SGs): Macroeconomic and Trade Policies and Outcomes7a. Indicators for Selected sub-Saharan African Countries: Costs of Trading; 7b. Indicators for Sustained Growth Countries (SGs): Costs of Trading; 8a. Indicators for Selected sub-Saharan African Countries: Social and Physical Infrastructure; 8b. Indicators for Sustained Growth Countries (SGs): Social and Physical Infrastructure; 8c. Years Corresponding to Data in Table 8b; Appendix Data and Sources; Appendix Tables
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9. Indicators for Selected sub-Saharan African Countries, 1996-20051: Income, Growth, and Population10. Indicators for Selected sub-Saharan African Countries: Institutions and Costs of Doing Business; 11. Indicators for Selected sub-Saharan African Countries: Conflicts 1; 12. Indicators for Selected sub-Saharan African Countries: Social Fractionalization; 13. Indicators for Selected sub-Saharan African Countries: Trade Outcomes1; 14. Indicators for Selected sub-Saharan African Countries: Macroeconomic and Trade Policies and Outcomes1
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15. Indicators for Selected sub-Saharan African Countries: Costs of Trading1
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English
Additional Edition:
ISBN 1-4518-6616-X
Language:
English
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