The East African Community [electronic resource] : prospects for sustained growth / Catherine McAuliffe, Sweta C. Saxena, and Masafumi Yabara.

By:

McAuliffe, Catherine

Contributor(s):

Material type: Text

text

Media type:

computer

Carrier type:

online resource

ISBN:

1475553579
9781475553574
9781475586312
1475586310

Subject(s): Genre/Form:

Electronic books.

DDC classification:

337.1676 23

LOC classification:

HG3881.5.I58 W67 No. 12/272eb

Online resources:

EBSCOhost

Summary: "The East African Community (EAC) has been among the fastest growing regions in sub-Saharan Africa in the past decade or so. Nonetheless, the recent growth path will not be enough to achieve middle-income status and substantial poverty reduction by the end of the decade -- the ambition of most countries in the region. This paper builds on methodologies established in the growth literature to identify a group of countries that achieved growth accelerations and sustained growth to use as benchmarks to evaluate the prospects, and potential constraints, for EAC countries to translate their recent growth upturn into sustained high growth. We find that EAC countries compare favorably to the group of sustained growth countries -- macroeconomic and government stability, favorable business climate, and strong institutions -- but important differences remain. EAC countries have a smaller share of exports, lower degree of financial deepening, lower levels of domestic savings, higher reliance on donor aid, and limited physical infrastructure and human capital. Policy choices to address some of these shortcomings could make a difference in whether the EAC follows the path of sustained growth or follows other countries where growth upturns later fizzled out"--Abstract.

Holdings ( 1 )
Title notes ( 6 )

Holdings
Item type	Current library	Collection	Call number	Status	Date due	Barcode	Item holds
eBook	e-Library	EBSCO Business		Available

Total holds: 0

Title from PDF title page (IMF Web site, viewed Nov. 26, 2012).

"African Department"--Page 2 of pdf.

"November 2012"--Page 2 of pdf.

"The East African Community (EAC) has been among the fastest growing regions in sub-Saharan Africa in the past decade or so. Nonetheless, the recent growth path will not be enough to achieve middle-income status and substantial poverty reduction by the end of the decade -- the ambition of most countries in the region. This paper builds on methodologies established in the growth literature to identify a group of countries that achieved growth accelerations and sustained growth to use as benchmarks to evaluate the prospects, and potential constraints, for EAC countries to translate their recent growth upturn into sustained high growth. We find that EAC countries compare favorably to the group of sustained growth countries -- macroeconomic and government stability, favorable business climate, and strong institutions -- but important differences remain. EAC countries have a smaller share of exports, lower degree of financial deepening, lower levels of domestic savings, higher reliance on donor aid, and limited physical infrastructure and human capital. Policy choices to address some of these shortcomings could make a difference in whether the EAC follows the path of sustained growth or follows other countries where growth upturns later fizzled out"--Abstract.

Includes bibliographical references (pages 50-53).

Master record variable field(s) change: 072, 082