Africa at a Turning Point?: Growth, Aid, and External Shocks

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  • Edition: 1st
  • Format: Paperback
  • Copyright: 2008-04-01
  • Publisher: World Bank

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Since the mid-1990s, sub-Saharan Africa has experienced an acceleration of economic growth that has produced rising incomes and faster human development. However, this growth contrasts with the continent's experience between 1975 and 1995, when it largely missed out on two decades of economic progress. This disparity between Africa's current experience and its history raises questions about the continent's development. Is there a turnaround in Africa's economy? Will growth persist?Africa at a Turning Point? is a collection of essays that analyzes three interrelated aspects of Africa's recent revival. The first set of essays examines Africa's recent growth in the context of its history of growth accelerations and collapses. It seeks to answer such questions as, is Africa at a turning point? Are the economic fundamentals finally pointing toward more sustainable growth? The second set of essays looks at donor flows, which play a large role in Africa's growth. These essays focus on such issues as the management and delivery of increased aid, and the history and volatility of donor flows to Africa. The third set of essays considers the recent impact of one persistent threat to sustained growth in Africa: commodity price shocks, particularly those resulting from fluctuations in oil prices.

Table of Contents

Forewordp. xix
Abbreviationsp. xxi
Introductionp. 1
Patterns of Long-Term Growth in Sub-Saharan Africap. 11
Is Africa's Economy at a Turning Point?p. 13
Patterns of Long-Term Growth in Sub-Saharan Africap. 87
Aid-Volume, Volatility, and Macroeconomic Managementp. 141
Assessing the Macroeconomic Framework for Scaling Up Foreign Aidp. 143
More and Better Aid: How Are Donors Doing?p. 195
The Macroeconomic Dynamics of Scaling Up Foreign Aidp. 235
Foreign Aid, Taxes, and Government Productivity: Alternative Scenarios for Ethiopia's Millennium Development Goal Strategyp. 267
Beyond Aid: New Sources and Innovative Mechanisms for Financing Development in Sub-Saharan Africap. 301
Managing External Shocksp. 341
Have External Shocks Become More Important for Output Fluctuations in African Countries?p. 343
Harnessing Oil Windfalls for Growth in the Africa Regionp. 375
Managing Oil Revenue Volatility in Nigeria: The Role of Fiscal Policyp. 427
Evaluation of the Welfare Impact of Higher Energy Prices in Madagascarp. 461
Economywide and Distributional Impact of an Oil Price Shock on the South African Economyp. 485
Contributorsp. 531
Indexp. 539
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