TY - BOOK ID - 134953790 TI - Sub-Saharan Africa's Recent Growth Spurt : An Analysis of the Sources of Growth AU - Cho, Yoonyoung AU - Tien, Bienvenue N. PY - 2014 PB - Washington, D.C., The World Bank, DB - UniCat KW - Demographic Transition KW - Economic Growth KW - Economic Theory & Research KW - Emerging Markets KW - Foreign Direct Investment KW - Growth Accounting KW - Macroeconomics and Economic Growth KW - Population Policies KW - Poverty Reduction KW - Private Sector Development KW - Total Factor Productivity UR - https://www.unicat.be/uniCat?func=search&query=sysid:134953790 AB - Since the mid-1990s, Sub-Saharan Africa has experienced unprecedented levels of high economic growth. A key question follows: What accounts for the turnaround of the growth performance in the mid-1990s? The answer can provide insight into whether the recent growth spurt in Sub-Saharan Africa is merely temporary or the beginning of a sustainable takeoff. This paper examines the sources of growth of 32 countries in Sub-Saharan Africa in a growth accounting framework. The findings suggest that the recent growth spurt is largely associated with an increase in the share of working-age population, capital accumulation, and total factor productivity, unlike previous periods. Resources play a role by attracting capital inflows, particularly from foreign direct investment and shifting labor away from agriculture. However, the growth prospects for Sub-Saharan Africa seem promising beyond resources, with steady progress in decreased fertility, increased foreign direct investment, political stability, and structural transformation. ER -