In this article, we analyze extended periods of growth in Africa based on panel estimations from 27 African countries during the 1960-1996 period. Our main conclusion is that sustainable growth needs to be based on a balanced mix of capital accumulation, macroeconomic adjustment and structural...

In this study, we analyse extended periods of growth in Africa based on panel estimations from 27 African countries during the 1960-1996 period. Only a dozen of such rapid growth episodes are observable in Africa since 1960, and several of them eventually came to an end. We use all existing...