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UNU-WIDER Understanding the African Growth Record: the Importance of Policy Syndromes and Governance

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Understanding the African Growth Record: the Importance of Policy Syndromes and Governance

The current paper, first, finds that although the post-independence growth of African economies has fallen substantially below that of other regions, this comparative evidence is less than uniform across time and countries. Second, it uncovers total factor productivity as the primary culprit underlying the generally dismal growth record. Third, reflecting recent evidence, the paper finds that ‘policy syndromes’ represent a major culprit explaining the growth performance, with their absence accounting for nearly 3.0 percentage point rise in the annual per capita GDP growth via increases in TFP. Finally, the paper finds that governance exerts positive direct and indirect impacts on growth; the latter is via the potential ability of governance to achieve a syndrome-free regime.
Publisher:
UNU-WIDER
Series:
WIDER Discussion Paper
Volume:
2009/02
Title:
Understanding the African Growth Record: the Importance of Policy Syndromes and Governance
Authors:
Augustin Kwasi Fosu
Publication date:
April 2009
ISBN 13 Print:
9789292301965
ISBN 13 Web:
9789292301972
Copyright holder:
© UNU-WIDER
Copyright year:
2009
Keywords:
African growth, policy syndromes, governance
JEL:
O11, O43, O55
Project:
African Development: Myths and Realities
Format:
online and printed copies

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