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Institutional Foundations for Shared Growth in Sub-Saharan Africa.
- Source :
- African Development Review / Revue Africaine de Développement; Dec2006, Vol. 18 Issue 3, p353-391, 39p
- Publication Year :
- 2006
-
Abstract
- The paper examines the dynamically evolving triangular relationships between institutions, growth and inequality in the process of economic development, in order to deepen the understanding of institutional conditions for pro-poor growth and shared growth. In this context, the paper discusses the institutional conditions found in sub-Saharan Africa, which may have produced the growth pattern that is unequal and against the poor. The analysis shows that sub-Saharan African countries require transforming institutions for embarking upon and sustaining a development path which would ensure shared growth in years to come. The paper first evaluates the growth-inequality-poverty nexus, as found in the recent literature, which increasingly challenges the trade-off between growth and equity, as postulated in the traditional theories. Various definitions of pro-poor growth are discussed and a sharper definition of the concept of ‘shared’ growth is provided. Definitions of institutions are then examined, as well as the triangular inter-relationships between institutions, inequality and poverty. The paper finally analyses specific institutional conditions found in sub-Saharan Africa that prevent economies from emerging out of low-equilibrium poverty traps that are characterized by low economic growth, unequal distribution of income and wealth as well as unequal access to resources and power. [ABSTRACT FROM AUTHOR]
Details
- Language :
- English
- ISSN :
- 10176772
- Volume :
- 18
- Issue :
- 3
- Database :
- Complementary Index
- Journal :
- African Development Review / Revue Africaine de Développement
- Publication Type :
- Academic Journal
- Accession number :
- 23573720
- Full Text :
- https://doi.org/10.1111/j.1467-8268.2006.00149.x