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9 700 600 AfricaGDPpercapitaTrend Year1974 $596.7 Year2006 $577.7 US$(Constant2000) 500 400 300 Year1960 $433.8 Year1995 $491.6 200 100 0 1955 1960 1965 1970 1975 1980 1985 1990 1995 2000 2005 2010 Year AfricaGDP&GDPpercapitaGrowthRate * 5.00% 4.49% 4.00% 3.00% 2.00% 2.94% 19602006 2.50% 19802006 19601980 1.65% 3.88% 19952006 1.00% 0.00% 1.00% 0.13% 0.25% 1.74% 19801995 1.12% 1.24% 2.00% GDP(constant2000US$) GDPpercapita(constant2000US$) *ReferringtosubSaharanAfrica. Source:WorldBank,WorldDevelopmentIndicators,database
10 GDPGrowthRegionalComparision 9.00% 8.00% 7.49% 8.17% 7.33% GDPGrowthRate(%) 7.00% 6.00% 5.00% 4.00% 3.00% 2.00% 2.94% 4.63% 3.52% 2.50% 5.45% 5.89% 3.88% 2.50% 2.55% 1.00% 0.00% 19602006 19802006 19952006 SubSaharanAfrica EastAsia&Pacific SouthAsia LatinAmerica&Caribbean III. Global Experience: The Cases and Ingredients of Success Africa’s poor performance is especially disturbing when seen in a global perspective. The period of African stagnation corresponded to a period of rapid growth in East Asia. The causes of that growth have been the subject of extensive discussion, including an important study by the World Bank itself, The East Asian Miracle. A more recent study, the Growth or Spence Commission (as it is often referred to and what we label as GSC) has revisited the issues on a global scale and seeks to extract policy lessons from the experience of 13 countries which achieved annual growth rates of 7% or more for at least 25 years. 9 The countries and their periods of sustained growth at the rates that GSC concerns itself with are as follows: Botswana 1960-2005; Brazil 1950-80; China 1961-2005; Hong Kong 1960-97; Indonesia 1966-97; Malaysia 1967-97; Japan 1950-83; S. Korea 9 Whilst GSC devotes a chapter to country contexts in which it looks at the implications of its analysis for Sub-Saharan Africa; small economies and those rich in natural resources; it does so in a rather broad brush manner (e.g. only 7 pages on Africa) especially in comparison with its carefully detailed and nuanced general discussion of growth issues. The Report does not aim to fully engage directly with the growth debate in Africa, for example on the role of geography it simply notes that many countries are landlocked with a muted suggestion that that is part of the reason for Africa’s disappointing growth performance but does not examine the issue in any detail (we examine this issue later). This reflects the fact that its focus is broad, ambitious and general or at any rate considerably more so than that of the Africa Task Force. The Commission’s report is mindful of the dangers of excessive or excessively rapid capital account liberalization but does not pay much attention to other aspects of the financial sector (e.g. domestic financial restraint; directed credit or the role of DFIs).
Page 1 and 2: 2 (DRAFT) Good Growth and Governanc
Page 3 and 4: 4 there were good prospects for sus
Page 5 and 6: 6 governance, then the fault lies n
Page 7: 8 reduction of poverty. But the sta
Page 11 and 12: 12 Adding Brazil and Botswana enhan
Page 13 and 14: 14 Switzerland, a landlocked mounta
Page 15 and 16: 16 success is not an accident: duri
Page 17 and 18: 18 growth and “near sufficient”
Page 19 and 20: 20 IV. The State and the Market: In
Page 21 and 22: 22 Wade, Mushtaq Khan, Meles Zenawi
Page 23 and 24: 24 The Commission for Africa includ
Page 25 and 26: 26 measures to encourage a supply r
Page 27 and 28: 28 The same is true for a bank that
Page 29 and 30: 30 Thus, a recurring theme of the c
Page 31 and 32: 32 on governance. It is the focus o
Page 33 and 34: 34 Thandika Makandawire’s essay a
Page 35 and 36: 36 emphasize the East Asian lesson
Page 37 and 38: 38 A World Bank team working on thi
Page 39: 40 Concluding Comments At the time

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