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Africa's growth prospects in a European mirror : a historical perspective
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Broadberry, S. N. and Gardner, Leigh (2013) Africa's growth prospects in a European mirror : a historical perspective. Working Paper. Coventry, UK: Department of Economics, University of Warwick. CAGE Online Working Paper Series, Volume 2013 (Number 172).
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Text (Working paper)
WRAP_172-2013_broadberry.pdf - Published Version Download (426Kb) | Preview |
Official URL: http://www2.warwick.ac.uk/fac/soc/economics/resear...
Abstract
Drawing on recent quantitative research on Europe reaching back to the
medieval period, and noting a relationship between the quality of institutions and
economic growth, this paper offers a reassessment of Africa’s growth prospects.
Periods of positive growth driven by trade, followed by growth reversals which wiped
out the gains of the previous boom, characterized pre-modern Europe as well as
twentieth century Africa. Since per capita incomes in much of sub-Saharan Africa are
currently at the level of medieval Europe, which did not make the breakthrough to
modern economic growth until the nineteenth century, we caution against too
optimistic a reading of Africa’s recent growth experience. Without the institutional
changes necessary to facilitate structural change, growth reversals continue to pose a
serious threat to African prosperity. Only if growth continues after a downturn in
Africa’s terms of trade can we be sure that the corner has been turned.
| Item Type: | Working or Discussion Paper (Working Paper) |
|---|---|
| Subjects: | D History General and Old World > DT Africa H Social Sciences > HB Economic Theory H Social Sciences > HC Economic History and Conditions |
| Divisions: | Faculty of Social Sciences > Economics |
| Library of Congress Subject Headings (LCSH): | Economic development -- Africa, Africa -- Economic conditions -- 19th century, Africa -- Economic conditions -- 20th century |
| Series Name: | CAGE Online Working Paper Series |
| Publisher: | Department of Economics, University of Warwick |
| Place of Publication: | Coventry, UK |
| Official Date: | 2013 |
| Volume: | Volume 2013 |
| Number: | Number 172 |
| Number of Pages: | 25 |
| Status: | Not Peer Reviewed |
| Publication Status: | Published |
| Funder: | Seventh Framework Programme (European Commission) (FP7) |
| Grant number: | SSH7-CT-2008-225342 (FP7) |
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