Commodity Prices and Growth in Africa | Zendy

Angus Deaton | Zendy

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Commodity Prices and Growth in Africa

Author(s) -

Angus Deaton

Publication year - 1999

Publication title -

the journal of economic perspectives

Language(s) - English

Resource type - Journals

SCImago Journal Rank - 9.614

H-Index - 196

eISSN - 1944-7965

pISSN - 0895-3309

DOI - 10.1257/jep.13.3.23

Subject(s) - authoritarianism , democratization , economics , independence (probability theory) , corporate governance , development economics , commodity , rule of law , democracy , economic system , political science , political economy , keynesian economics , market economy , politics , statistics , mathematics , finance , law

African states that came to independence by the late 1960s made a rapid transition to authoritarian rule during a period of reasonably robust growth. Growth then faltered badly from the mid-1970s to the mid-1990s as these regimes coped with external shocks and varying degrees of fiscal crisis. Leading critics embed Africa's slow growth in failures of governance associated with "weak" authoritarian rule. These provide important insights into policy patterns while suggesting the growth-promoting potential of Africa's recent Democratization.

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