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RAMPING UP AFRICAN GROWTH: LESSONS FROM FIVE DECADES OF GROWTH EXPERIENCE
Author(s) -
Ndulu Benno J.
Publication year - 2006
Publication title -
economic affairs
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.24
H-Index - 18
eISSN - 1468-0270
pISSN - 0265-0665
DOI - 10.1111/j.1468-0270.2006.00662.x
Subject(s) - property rights , investment (military) , development economics , business , economics , natural resource economics , economic policy , economic growth , market economy , international economics , political science , politics , law , microeconomics
Since the 1960s economic growth rates have been far lower in sub‐Saharan Africa than in other developing regions. This poor performance has resulted primarily from endemic rent‐seeking and the over‐regulation of markets. To achieve high growth rates, African countries must improve the investment climate by reforming institutions, enhancing infrastructure and protecting property rights.