Has the African Growth Miracle Already Happened?

From AfricaCan End Poverty Tue Jan 15 2013, 11:55:48

Most of the literature about Africa's growth, "Africa Rising", "Lions on the Move", etc., refer to the present or the future. An oft-quoted World Bank report said, "Africa could be on the brink of an economic takeoff, much like China was 30 years ago and India 20 years ago."

Meanwhile, Alwyn Young has recently published a paper that claims that per-capita consumption on the continent has been growing at 3.4-3.7 percent a year for the last two decades--about three to four times the growth rates documented in other studies. Instead of using national accounts data (which, as we know, suffer from several deficiencies), Alwyn adopts the Demographic and Health Surveys (DHS), which calculate the households' ownership of assets and other indicators of well-being (ownership of a car or bicycle; material of the house floor; birth, death or illness of a child, etc.).

Employing a variety of econometric techniques (including some robustness checks and sensitivity analyses), he then calculates an asset index across the various components of the DHS. Assuming a constant relationship among assets, educational attainment and consumption, he ...

[view whole blog post ]

 See More    |     Report Abuse


You might also be interested in the following news stories:

Nigeria:   Panic in Kano as Second Blast Hits (news)
Premium Times
28 July 2014

The Nigeria Police say a second explosion has rocked the ancient city of Kano. [read more]

Kenya:   Court Halts Further Anglo Leasing Payments (news)
Capital FM
28 July 2014

The Court of Appeal on Monday directed the government not to make further payments for claims linked to 18 Anglo Leasing contracts. [read more]

Africa:   Better Management of Dead and Missing Migrants Needed in Europe (news)
UN Integrated Regional Information Networks
28 July 2014

As the number of migrants and asylum seekers reaching southern Europe's shores this year continues to climb - to about 75,000 at last count - so too does the death toll from attempts to cross the ... [read more]



blogAfrica is allAfrica.com's platform to help you keep an ear on the African blogosphere. We draw diverse voices from around the world who post regularly and insightfully about African issues. Bloggers, submit your blog's rss-feed!