The literature on global growth convergence and divergence is vast and deep. And it is still evolving. Some have argued that global growth is actually diverging across countries. Pritchett (1977) called this “divergence, big time”, whereby the living standards of a few countries pulled away from the rest in the aftermath of the industrial revolution.
Growth escalators and growth convergence
Ejaz Ghani, 17 August 2014
African growth looking forward
Marco Annunziata, 16 August 2014
Views on Africa’s growth prospects have jumped from utter pessimism to extreme enthusiasm. The latter has been centre-stage with the US–Africa Summit hosted in Washington DC from 4–6 August 2014, with the participation of top political and business leaders.
Rethinking African solar power for Europe
Emanuele Massetti, Elena Ricci, 23 July 2014
The DESERTEC Foundation has suggested that up to 20% of power demand in Europe can be obtained by connecting African deserts to European cities (Figure 1). The idea is to build a large number of concentrated solar power (CSP) plants in Middle Eastern and Northern African (MENA) countries, and to transmit electricity to Europe by means of very efficient high-voltage direct-current cables.
British and French educational legacies in Africa
Denis Cogneau, Alexander Moradi , 17 May 2014
Britain and France followed two very distinct approaches to education in their African colonies (Garner and Schafer 2006).
Newspaper readership, civic attitudes, and economic development: Evidence from the history of African media
Julia Cagé, Valeria Rueda, 14 May 2014
Poor governance due to lack of political accountability is often cited as an explanation for the low level of economic development in sub-Saharan Africa. Lack of political accountability can emerge when voters do not choose their candidates according to their expected performance.
More to do on measuring hunger
Joachim De Weerdt, Kathleen Beegle, Jed Friedman, John Gibson, 18 February 2014
One of the first Millennium Development Goals is to reduce hunger by half between 1990 and 2015. To date, the global hunger count has fallen slightly, from 1 billion in 1990–1992 to 870 million in 2010–2012 (Food and Agriculture Organization 2013). As a proportion of the world’s population, this is just a one-third fall in the hunger rate, from 19% to 13%.
Why don’t African firms create more jobs?
Leonardo Iacovone, Vijaya Ramachandran, 7 February 2014
There is an urgent need for job creation in Africa. Many economies on the continent suffer high rates of under-employment and/or low-productivity employment. In addition, because of demographic factors, many countries anticipate that large numbers of youth will enter the workforce in the near future.
The value of democracy in the world’s poorest region: Evidence from Kenya’s road building
Ameet Morjaria, 5 February 2014
An enormous literature points to a diverse set of factors behind Africa’s growth tragedy, ranging from bad policies, poor education, and poor infrastructure, to aging leaders, the historic slave trade, and political instability.
With a little help from my friends – FDI in Africa
Holger Görg, Christiane Krieger-Boden, Adnan Seric, 10 December 2013
Foreign direct investment (FDI) and the emergence of multinational firms (MNEs) have proven successful strategies for the growth performance of host countries. In recent years, developing economies have gained substantial shares of such worldwide FDI flows. Now, a “new wave of FDI” has even swept sub-Saharan Africa, one of the poorest regions of the world (Figure 1).
AGOA rules: The intended and unintended consequences of special fabric provisions
Lawrence Edwards, Robert Z. Lawrence, 20 November 2013
The US and EU often claim credit for granting duty-free quota-free access to products from the least developed countries. Such preferential treatment is of interest not only because it might provide one-time benefits in the form of higher incomes and increased employment, but also because trade is often associated with dynamic benefits that lead to faster growth and development.
- Secular stagnation: Facts, causes, and cures – a new Vox eBookTeulings, Baldwin
- Can large primary surpluses solve Europe’s debt problem?Eichengreen, Panizza
- The unrecognised benefits of grade inflationBoleslavsky, Cotton
- The US manufacturing base is surprisingly strongMoran, Oldenski
- Risk attitudes are context-specificLoomes, Pogrebna
- A tale of two depressions: What do the new data tell us? February 2010 updateEichengreen, O’Rourke
- Educated in America: College graduates and high school dropoutsHeckman, LaFontaine
- Eurozone breakup would trigger the mother of all financial crisesEichengreen
- Panic-driven austerity in the Eurozone and its implicationsDe Grauwe, Ji
- Debt, deleveraging, and the liquidity trap: A new modelKrugman