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:

Burkina Faso:   Why Historic Vote Matters (news)
Al Jazeera
28 November 2015

Voters in Burkina Faso are heading to polls on Sunday, in a closely watched election that could mark the beginning of a new chapter in the country's political history. [read more]

Central African Republic:   Pope On 'Special Mission' to Restive Bangui (news)
The East African
28 November 2015

Pope Francis was set to embark on the final leg of his Africa -- to Bangui in Central African Republic -- on Sunday, which he has described as an opportunity to accomplish a "special mission". [read more]

Burkina Faso:   Low Turnout in Burkina Faso Elections (news)
29 November 2015

Burkina Faso voters are electing a president and parliament on Sunday, one year after a violent public uprising forced the West African country's long-time leader out of office. [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!

Today's Featured News
Mozambique Ruling Party Faces Tough Contest

Renamo supporters: Ruling Frelimo faces a stern challenge at Wednesday's polls from...

Surge in Central African Republic Violence

African Union troops in Bangui (file photo): The UN has expressed alarm...

Nigeria, Cameroon, Ghana Get Crucial Wins

Asamoah Gyan of Ghana (file photo): The Super Eagles have boosted their...