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Keywords:Africa 

Working Paper
Financial intermediation and economic growth in southern Africa
The role of the financial sector in stimulating economic growth has been debated in the economic profession for decades. The prevailing view is that financial intermediaries reduce the transactions costs of channeling funds from savers to entrepreneurs by reducing information asymmetries between lenders and borrowers, there by stimulating investment and growth. Inflation, on the other hand, increases uncertainty and has a negative impact on investment and reduces growth. This paper tests these two hypotheses empirically using a pooled time series for a cross-section of countries in the southern cone of Africa. The countries are members of the Southern African Development Community (SADC) integrated trade group. The empirical results suggest a positive correlation between the growth in the level of liquid liabilities ( as a proxy for financial depth) and economic growth, and also confirm the negative correlation between inflation and economic growth.
AUTHORS: Allen, Donald S.; Ndikumana, Leonce
DATE: 1998

Report
Foreign direct investment and indebted developing countries
AUTHORS: Hickok, Susan; Arguelles, R.
DATE: 1986

Conference Paper
Is monetary policy different in Africa?
AUTHORS: Plenderleith, Ian
DATE: 2003

Conference Paper
Africa : geography and growth
AUTHORS: Collier, Paul
DATE: 2006

Journal Article
Africa : geography and growth
AUTHORS: Collier, Paul
DATE: 2006-10

Report
Africa is on time
We present evidence that the recent African growth renaissance has reached Africa?s poor. Using survey data on African income distributions and national accounts GDP, we estimate income distributions, poverty rates, and inequality indices for African countries for the period 1990-2011. Our findings are as follows. First, African poverty is falling rapidly. Second, the African countries for which good inequality data exist are set to reach the Millennium Development Goal (MDG) poverty reduction target on time. The entire continent except for the Democratic Republic of Congo (DRC) will reach the MDG in 2014, one year in advance of the deadline, and adding the DRC will delay the MDG until 2018. Third, the growth spurt that began in 1995, if anything, decreased African income inequality instead of increasing it. And fourth, African poverty reduction is remarkably general: It cannot be explained by a large country or even by a single set of countries possessing some beneficial geographical or historical characteristic. All classes of countries, including those with disadvantageous geography and history, experienced reductions in poverty. In particular, poverty fell for both landlocked as well as coastal countries; for mineral-rich as well as mineral-poor countries; for countries with favorable or unfavorable agriculture; for countries regardless of colonial origin; and for countries with below- or above-median slave exports per capita during the African slave trade.
AUTHORS: Pinkovskiy, Maxim L.; Sala-i-Martin, Xavier X.
DATE: 2014-08-01

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