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The economic tragedy of the XXth Century: Growth in Africa
V. Artadi, Elsa; Sala-i-Martín, Xavier
Universitat Pompeu Fabra. Departament d'Economia i Empresa
The dismal growth performance of Africa is the worst economic tragedy ofthe XXth century. We document the evolution of per capita GDP for thecontinent as a whole and for subset of countries south of the Saharadesert. We document the worsening of various income inequality indexesand we estimate poverty rates and headcounts. We then analyze some ofthe central robust determinants of economic growth reported bySala-i-Martin, Doppelhofer and Miller (2003) and project the annual growthrates Africa would have enjoyed if these key determinants had taken OECDrather than African values. Expensive investment goods, low levels ofeducation, poor health, adverse geography, closed economies, too muchpublic expenditure and too many military conflicts are seen as keyexplanations of the economic tragedy.
Macroeconomics and International Economics
Labour, Public, Development and Health Economics
determinants of growth
economic developement
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