African nations are in desperate need of investment capital to jump-start economies that lack such basic infrastructure as roads, railways and electric power. This was the message from three African leaders in Philadelphia last month to attend the biennial summit of the Corporate Council on Africa. In a discussion moderated by James Harmon, former chairman of the Export-Import Bank, African officials offered a blueprint to … [ Read more ]
This pamphlet presents the results of an empirical analysis of the factors affecting economic growth in sub-Saharan Africa, using data for the period 1981-97 and a sample of 32 countries. The empirical work involved the estimation of a growth equation to identify the key determinants of per capita real GDP growth, including economic variables that reflect the influence of economic policy changes as well as … [ Read more ]
“Winds of change are blowing through the continent,” declared Smuts Ngonyama, chief strategic advisor to South African President Thabo Mbeki during a Wharton-sponsored forum on investing in Africa. While Ngonyama’s upbeat sentiments were echoed by other speakers, these experts also noted persistent obstacles that still hamper significant levels of investment and development, including corruption and the lack of an adequate criminal justice system. But here … [ Read more ]
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