Journal Article

An African Growth Miracle?

Dani Rodrik

in Journal of African Economies

Volume 27, issue 1, pages 10-27
Published in print January 2018 | ISSN: 0963-8024
Published online December 2016 | e-ISSN: 1464-3723 | DOI: https://dx.doi.org/10.1093/jae/ejw027
An African Growth Miracle?

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  • Economic Growth and Aggregate Productivity
  • Economic Development
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Abstract

SSA has grown rapidly over the last decade, but a curious feature of this growth was that it was accompanied by little structural change towards non-traditional tradables (such as manufactures). Now that China, the advanced economies, and most emerging markets are all slowing down, the question whether Africa’s high growth can be sustained looms larger. This article looks at this question from the lens of modern growth theory, paying particular attention to structural issues that are crucial for low-income countries. It comes down on the pessimistic side, due to what appear to be poor prospects for industrialization. This article also considers alternative models of growth, based on services instead of manufactures.

Keywords: Africa; economic growth; economic reform; industrialization

Journal Article.  5972 words.  Illustrated.

Subjects: Economic Growth and Aggregate Productivity ; Economic Development ; Economywide Country Studies

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