Reinvigorating Growth In Resource Rich Sub Saharan Africa PDF Download
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Author | : Ivailo Izvorski |
Publisher | : |
Total Pages | : |
Release | : 2018 |
Genre | : |
ISBN | : |
Download Reinvigorating Growth in Resource-Rich Sub-Saharan Africa Book in PDF, ePub and Kindle
The strong economic performance of Sub-Saharan Africa's resource-rich countries since the start of the 21st century has been celebrated as a return to more buoyant growth and renewed convergence with the advanced economies. Despite the recent progress in improving living standards and reducing poverty, achieving high and sustainable growth continues to be the main challenge for policymakers. Rwanda and Ethiopia have led Sub-Saharan Africa (SSA) in terms of per-capita growth since 2000, growing faster than South Asia. However, the gap between the resource-rich countries of Africa with East Asia and the Pacific (EAP), SAR, and the advanced economies has widened since 2010, underlining the difficulty of accelerating growth. Africa has often been portrayed as a continent of boundless natural riches that have helped pull the whole subcontinent forward. Indeed, resource-rich Africa accounts for a dominant part of SSA's economy. Resource-rich SSA accounts for 70 percent of both the subcontinent's GDP and physical capital, 60 percent of its natural capital, and nearly 40 percent of its population. For the continent in aggregate and in per capita terms, however, natural resources are just a bit higher than in the South Asia Region (SAR) and lag all other developing regions. One way of thinking of strengthening economic growth depends on more exploration and development of natural resources that should help increase the continent's natural wealth, as has happened in many other developing regions. More importantly, durable prosperity in resource-rich Africa depends on building up the assets, or components of overall wealth, that are in relatively short supply. In recent years, the literature has started to focus on assets and assets diversification as a path to development, and the World Bank has led in this area. In this report, we emphasize the two complementary types of assets that Africa's resource-rich countries need to build up to accelerate growth: one is within national borders and the other across borders.
Author | : Bénédicte de la Brière |
Publisher | : World Bank Publications |
Total Pages | : 172 |
Release | : 2017-05-17 |
Genre | : Education |
ISBN | : 1464810060 |
Download From Mines and Wells to Well-Built Minds Book in PDF, ePub and Kindle
Sub-Saharan Africa's natural resource-rich countries have poor human development. Children in these countries are more likely to die before their first birthday, more likely to be stunted, and less likely to attend school than children in other countries with similar income. Despite the current price downturn, extractives will remain an important part of Sub-Saharan Africa's growth story—using resource rents wisely remains a long term challenge. Governments must choose how to allocate resource rents between spending, investing in human or physical capital, or investing in global financial assets. The return to investing in physical and human capital will be high in countries where the capital stock is low. Moreover, higher levels of human capital make investments in physical capital more productive, which suggests that the optimal portfolio will involve investing in both. Human capital should be prioritized in many of Sub-Saharan Africa’s resource-rich countries because of the low starting point. Investing effectively in human capital is hard because it involves delivering services, which means coordinating a large number of actors and activities. Three dimensions of governance are key: institutions, incentives and information. Decentralization and leveraging the private sector are entry points to reforming institutional structures. Revenues from natural resources can fund financial incentives to strengthen performance or demand. Producing information, making it available, and increasing social accountability helps citizens understand their rights and hold governments and providers accountable. Improving the quality of education and health services is central to improving human capital. Two additional areas are promising. First, early child development—mother and newborn health, and early child nutrition, care, and education—improves outcomes in childhood and later on. Second, cash transfers—either conditional or unconditional—reduce poverty, increase household investments in child education, nutrition, and health, and increase the investment in productive assets which foster further income generation.
Author | : Charlotte J. Lundgren |
Publisher | : International Monetary Fund |
Total Pages | : 91 |
Release | : 2013-10-07 |
Genre | : Nature |
ISBN | : 1484397460 |
Download Boom, Bust or Prosperity? Managing Sub-Saharan Africa’s Natural Resource Wealth Book in PDF, ePub and Kindle
Sizeable natural resource endowments and potentially large financial inflows from their extraction provide an unparalleled opportunity for economic growth and development in a growing number of sub-Saharan African countries. Empirical evidence suggests, however, that translating this resource wealth into stronger economic performance and a higher standard of living has proven challenging. Much has been written about the resource curse. This publication focuses on solutions to the challenges and outlines the main policy considerations and options in managing natural resource wealth, drawing on experience within and outside sub-Saharan Africa and referring closely to the latest analysis and policy advice in this area by the IMF, the World Bank, and leading academic research. A key feature of each chapter is a recommended reading list for those who wish additional, more in-depth material on these issues to further inform policymakers and other stakeholders on the theoretical and analytical underpinnings of the policy advice.
Author | : Aercio S. Cunha |
Publisher | : |
Total Pages | : 72 |
Release | : 1989 |
Genre | : Africa, Sub-Saharan |
ISBN | : |
Download Natural Resources, Structural Adjustment, and Sustainable Growth in Sub-Saharan Africa Book in PDF, ePub and Kindle
Author | : James Cust |
Publisher | : World Bank Publications |
Total Pages | : 257 |
Release | : 2023-04-20 |
Genre | : Business & Economics |
ISBN | : 1464817448 |
Download Africa's Resource Future Book in PDF, ePub and Kindle
This book examines the role for natural resource wealth in driving Africa’s economic transformation and the implications of the low-carbon transition for resource-rich economies. Resource wealth remains central to most Sub-Saharan African economies, and significant untapped potential is in the ground. Subsoil assets—such as metals, minerals, oil, and gas—are key sources of government revenues, export earnings, and development potential in most countries in the Africa region. Despite large reserves, success in converting subsoil wealth into aboveground sustainable prosperity has been limited. Since the decline in commodity prices in 2014, resource-rich Africa has grown more slowly than the region’s average growth rate. Finding ways to more effectively harness natural resource wealth to drive economic transformation will be central to Africa’s economic future. As the world moves away from fossil fuels in alignment with commitments under the Paris Agreement, Africa’s resource-rich countries face new risks and opportunities. Recent estimates suggest that 80 percent of the world’s proven fossil fuel reserves must remain underground to meet the Paris targets, and much of these stranded reserves may be in Africa. This issue of stranded assets and, relatedly, “stranded nations,†? has major implications for the many African economies that are dependent on petroleum extraction and export. On the other hand, the energy transition will increase demand for raw material inputs involved in clean energy technologies. The transition from fossil fuels to clean energy may create demand by 2050 for 3 billion tons of minerals and metals that are needed to deploy solar, wind, and geothermal energy. How can African economies tap into these opportunities while managing the downside risk to their fossil fuel wealth? Africa’s Resource Future explores these themes and offers policy makers insights to help them navigate the coming years of uncertainty.
Author | : Elias T. Ayuk |
Publisher | : Springer |
Total Pages | : 142 |
Release | : 2019-06-07 |
Genre | : Political Science |
ISBN | : 3030118576 |
Download New Frontiers in Natural Resources Management in Africa Book in PDF, ePub and Kindle
This book discusses policy strategies for the effective management of natural resources in Africa within the context of the United Nations’ Sustainable Development Goals (SDG). While natural resource wealth has the potential to lift many out of poverty, sustain economic growth, and foster political stability, it does not guarantee these benefits. The absolute levels of human development in many resource-rich countries remain low, despite their apparent wealth. The challenge is to adopt policies that better harness the potential of natural resources, not only as an opportunity for development, but also to foster policies and institutional innovations that manage resource wealth equitably and boost human capital. To this end, this volume highlights key opportunities and solutions for harnessing natural resources for sustained economic development and explain how such approaches should be incorporated into the SDG agenda. These opportunities are communicated in the form of policy recommendations that in some cases, are country specific but can (and should) be adapted by individual African countries where applicable. With a broad perspective supplied by a diverse group of authors, this book will be useful for graduate students and academicians studying Africa, development economics, economic policy, and resource management, as well as policy makers, NGOs, and IGOs.
Author | : Babashola Chinsman |
Publisher | : Trafford Publishing |
Total Pages | : 290 |
Release | : 2006 |
Genre | : Business & Economics |
ISBN | : 1412074797 |
Download Uncommon Thinking Book in PDF, ePub and Kindle
Development performance in sub-Saharan Africa is scrutinized largely through a western lens. This rare view from within provides uncommon insights for formulating winning strategies -- an elusive objective so far.
Author | : Andrew McKay |
Publisher | : Oxford University Press |
Total Pages | : 329 |
Release | : 2015-10-29 |
Genre | : Business & Economics |
ISBN | : 0191044121 |
Download Economic Growth and Poverty Reduction in Sub-Saharan Africa Book in PDF, ePub and Kindle
After many years of disappointing performance, Sub-Saharan Africa has shown impressive growth performance since the start of the millenium. However, the impact of this on poverty reduction is still not well understood and this led the African Economics Research Consortium in Nairobi to undertake a major collaborative research project on the linkages between growth and poverty reduction in Sub-Saharan Africa. This volume is based on research undertaken by world leading researchers on major issues influencing the extent to which growth can translate into poverty reduction. The volume includes two review chapters on the impact of growth on poverty reduction, and on the impact of widespread poverty on economic growth, and argues that both relationships are important for understanding how growth and poverty reduction interact. The volume focuses, in detail, on the role of agriculture, the labour market, the informal sector, the industrial sector, the global context, and macroeconomic issues. All chapters comprise an extensive review of the existing literature and highlight new and important directions. As more information on the evolution of poverty and living conditions in Sub-Saharan Africa emerge, this volume is important in helping to interpret and explain that evidence.
Author | : Ann Willcox Seidman |
Publisher | : Greenwood |
Total Pages | : 392 |
Release | : 1974 |
Genre | : Political Science |
ISBN | : |
Download Planning for Development in Sub-Saharan Africa Book in PDF, ePub and Kindle
Monograph on economic planning and economic policy decision making in English speaking Africa - proposes a model of underdevelopment, and covers export promotion, social structure and economic development, industrial development strategies, agrarian structure, trade policy and commercial policy, financial policy, etc. References.
Author | : Charlotte J. Lundgren |
Publisher | : |
Total Pages | : 75 |
Release | : 2013 |
Genre | : Economic development |
ISBN | : 9781484337431 |
Download Boom, Bust, Or Prosperity? Book in PDF, ePub and Kindle
Sizable natural resource endowments and potentially large financial inflows from their extraction provide an unparalleled opportunity for economic growth and development in a growing number of sub-Saharan African countries. Empirical evidence suggests, however, that translating this resource wealth into stronger economic performance and a higher standard of living has proved challenging. Much has been written about the resource curse. This publication focuses on solutions to the challenges and outlines the main policy considerations and options in managing natural resource wealth, drawing on experience within and outside sub-Saharan Africa and referring closely to the latest analysis and policy advice in this area by the IMF, the World Bank, and leading academic research. A key feature of each chapter is a recommended reading list for those who wish additional, more in-depth material on these issues to further inform policymakers and other stakeholders on the theoretical and analytical underpinnings of the policy advice.