Skip to main content

An Overview: A Multidimensional Economic Assessment of Africa

  • Chapter
  • First Online:
A Multidimensional Economic Assessment of Africa

Part of the book series: Frontiers in African Business Research ((FABR))

  • 273 Accesses

Abstract

In the face of weak growth globally, there is still an opportunity for Africa to further build upon the developmental successes it has enjoyed in recent decades. This introductory chapter provides an overview of the key areas of analysis located in the book, in particular an assessment of the African agricultural sector, the issues of poverty and inequality, banking and financial services, as well as opportunities for further international trade development in the region. The chapter highlights both areas of economic strength and vulnerability as well also providing an in depth assessment of various policy platforms that have been implemented in the region.

This is a preview of subscription content, log in via an institution to check access.

Access this chapter

Chapter
USD 29.95
Price excludes VAT (USA)
  • Available as PDF
  • Read on any device
  • Instant download
  • Own it forever
eBook
USD 129.00
Price excludes VAT (USA)
  • Available as EPUB and PDF
  • Read on any device
  • Instant download
  • Own it forever
Softcover Book
USD 169.99
Price excludes VAT (USA)
  • Compact, lightweight edition
  • Dispatched in 3 to 5 business days
  • Free shipping worldwide - see info
Hardcover Book
USD 169.99
Price excludes VAT (USA)
  • Durable hardcover edition
  • Dispatched in 3 to 5 business days
  • Free shipping worldwide - see info

Tax calculation will be finalised at checkout

Purchases are for personal use only

Institutional subscriptions

References

  • Adesina, J. O. (2016). Chapter 18: Inequality in sub-Saharan Africa: dimensions and drivers, in World Social Science Report 2016: Challenging inequalities, pathways to a just world. United Nations. Retrieved December 5, 2019 from: https://unesdoc.unesco.org/ark:/48223/pf0000245946.

  • Adetutu, M. O., and Ajayi, V. (2019). The Impact of Domestic and Foreign R&D on Agricultural Productivity in sub-Saharan Africa. World Development 125: 1–13.

    Google Scholar 

  • Africa Union. (2019). Agenda 2063: The Africa we want. Africa Union. Retrieved online November 13, 2019 from: https://au.int/en/agenda2063/overview.

  • Agrawal, P. (2015). The role of exports in India’s economic growth. Journal of International Trade and Economic Development 24 (6), 835–859.

    Article  Google Scholar 

  • Alene, A. D. (2010). Productivity growth and the effects of R&D in African agriculture. Agricultural Economics, 41 (3–4), 223–238.

    Google Scholar 

  • Beck, T., and Maimbo, S. M. (2013). Financial Sector Development in Africa: Opportunities and Challenges. World Bank, Washington.

    Google Scholar 

  • Beintema, N. M., and Stads, G-J. (2011). African agricultural R&D in the new millennium: Progress for some, challenges for many. IFPRI, food policy report. Washington, DC: International Food Policy Research Institute.

    Google Scholar 

  • Bigsten, A. (2014). Dimensions of income inequality in Africa, WIDER Working Paper 2014/050.

    Google Scholar 

  • Booth, D., Cammack, D., Hannigan, J., Kanyongolo, J., Mataure, M., and Ngwira, N. (2006). Drivers of change and development in Malawi, ODI Working Paper 261. London: Overseas Development Institute.

    Google Scholar 

  • Brink. A. B., and Eva, H. D. (2009). Monitoring 25 years of land cover change dynamics in Africa: A sample based remote sensing approach, Applied Geography, 29 (4): 501–512.

    Article  Google Scholar 

  • Buyonge, C., and Kireeva, I. (2008). Trade facilitation in Africa: challenges and possible solutions. World Customs Journal, 2 (1), 41–54.

    Google Scholar 

  • Cali, M., and te Velde, D. W. (2011). Does aid for trade really improve trade performance? World Development, 39 (5), 725–740.

    Article  Google Scholar 

  • Chronic Poverty Research Centre. (CPRC, 2004). The Chronic Poverty Report 2004–05. Manchester. Chronic Poverty Research Centre. Retrieved online December 5, 2019 from: http://www.chronicpoverty.org/resources/cprc_report_2004-2005_contents.html.

  • Cloete, K. (2019, Sept 6). Africa’s new free trade area is promising, yet full of hurdles. World Economic Forum. Retrieved online November 13, 2019 from: https://www.weforum.org/agenda/2019/09/africa-just-launched-the-world-s-largest-free-trade-area/.

  • Cornia, G. A., and Martorano, B. (2016). Building the integrated database and the seven sins of inequality measurement in Sub-Saharan Africa, UNDP Africa Policy Notes 2016-02, UNDP Regional Bureau for Africa. New York: UN Development Program.

    Google Scholar 

  • Drechsel, P., Gyiele, L., Kunze, D., and Cofie, O. (2001). Population Density, Soil Nutrient Depletion, and Economic Growth in Sub-Saharan Africa. Ecological Economics, 38: 251–258.

    Article  Google Scholar 

  • European Investment Bank. (2018). Banking in Africa: Delivering on Financial Inclusion, Supporting Financial Stability. European Investment Bank. Retrieved online December 6, 2019 from: https://www.eib.org/attachments/efs/economic_report_banking_africa_2018_en.pdf.

  • Fan, S., Zhang, X., and Rao, N. (2004). Public expenditure, growth and poverty reduction in rural Uganda. DSG discussion paper no. 4. Washington, DC: IFPRI.

    Google Scholar 

  • Food and Agriculture Organization. (FAO, 2015). The State of Food Insecurity in the World 2015. Meeting the 2015 international hunger targets: taking stock of uneven progress. Food and Agriculture Organization Publications, Rome.

    Google Scholar 

  • Frankel, J. A., and Romer, D. (1999). Does trade cause growth? American Economic Review 89 (3), 379–399.

    Article  Google Scholar 

  • Fulginiti, L. E., Perrin, R. K., and Yu, B. (2004). Institutions and agricultural productivity in Sub-Saharan Africa. Agricultural Economics 31 (2–3), 169–180.

    Article  Google Scholar 

  • Goodhand, J. (2001). Violent conflict, poverty and chronic poverty, CPRC Working Paper 6. Manchester: Chronic Poverty Research Centre.

    Google Scholar 

  • Handley, G., Higgins, K., Sharma, B., Bird, K., and Cammack, D. (2009). Poverty and Poverty Reduction in sub-Saharan Africa: An overview of the issues. Overseas Development Institute Working Paper 299. London.

    Google Scholar 

  • Hamel, K., Tong, B., and Hofer, M. (2019). Future Development: Poverty in Africa is now falling—but not fast enough. Brookings. Retrieved online December 5, 2019 from: https://www.brookings.edu/blog/future-development/2019/03/28/poverty-in-africa-is-now-falling-but-not-fast-enough/.

  • Harvey, P. (2004). HIV/AIDS and humanitarian action, HPPG Briefing Paper No. 14, http://www.odi.org.uk/hpg/papers/hpgbrief14.pdf.

  • Heshmati, A., Kim, J., and Wood, J. (2019). A Survey of Inclusive Growth Policy. Economies. 7(3), 65, https://doi.org/10.3390/economies7030065.

    Article  Google Scholar 

  • Imam, P., and Kpodar, K. (2015). Is Islamic Banking Good for Growth? IMF Working Paper 15/81, International Monetary Fund, Washington.

    Google Scholar 

  • International Monetary Fund. (IMF, 2016a). Financial Development in Sub-Saharan Africa: Promoting Inclusive and Sustainable Growth. IMF. Retrieved online December 6, 2019 from: https://www.imf.org/external/pubs/ft/dp/2016/afr1605.pdf.

  • International Monetary Fund. (IMF, 2016b). West African Economic and Monetary Union (WAEMU): Staff Report on Common Policies of Member Countries. IMF Country Report 16/96, International Monetary Fund, Washington, March.

    Google Scholar 

  • International Parliamentary Union. (2016). Women in national parliaments. Retrieved online December 6, 2019 from http://www.ipu.org/wmn-e/classif.htm.

  • Jayne, T. S., Headey, D., and Chamberlin, J. (2014). Land Pressures, the Evolution of Farming Systems, and Development Strategies in Africa: A Synthesis. Food Policy, 48: 1–17.

    Article  Google Scholar 

  • Jayne T. S., and Rashid, S. (2013). Input Subsidy Programs in Sub-Saharan Africa: A Synthesis of Recent Evidence. Agricultural Economics, 44(6): 1–16.

    Article  Google Scholar 

  • Kammer, A., Norat, M., Pinon, M., Prasad A., Towe, C., and Zeidane, Z. (2015). Islamic Finance: Opportunities, Challenges, and Policy Options. IMF Staff Discussion Note. SDN/15/05. IMF. Retrieved online December 11, 2019 from: https://www.imf.org/external/pubs/ft/sdn/2015/sdn1505.pdf.

  • Karingi, S., and Leyaro, V. (2009). Monitoring aid for trade in Africa: an assessment of the effectiveness of the aid for trade. African Trade Policy Centre, Work in Progress, No. 83. UN Economic Commission for Africa.

    Google Scholar 

  • Kimenyi, M., Adibe, J., Djire, M., Jirgi, A. J.Kergna, A., Deressa, T. T., Pugliese, J. E., and Westbury, A. (2017). The Impact of Conflict and Political Instability on Agricultural Investments in Mali and Nigeria. Africa Growth Initiative Working Paper 17. Brookings. Retrieved online December 4, 2019 from: https://www.brookings.edu/wp-content/uploads/2016/06/14–07-22-Impact-of-Conflict-MaliNigeria_FINAL.pdf.

  • Krueger, B. A. (1980). Trade policy as an input to development. American Economic Review 70 (2), 288–292.

    Google Scholar 

  • Manders, S. (2019). Expert Analysis: Africa’s Free Trade Area—Where are we now? Global Trade Review. Retrieved online November 19, 2019 from: https://www.gtreview.com/news/africa/expert-analysis-africas-free-trade-area-where-are-we-now/.

  • Maredia, M. K., Byerlee, D., and Pee, P. (2000). Impacts of food crop improvement research: Evidence from sub-Saharan Africa. Food Policy, 25(5), 531–559.

    Article  Google Scholar 

  • Masters, W. A., Bedingar, T., and Oehmke, J. F. (1998). The impact of agricultural researching Africa: Aggregate and case study evidence. Agricultural Economics, 19 (1–2), 81–86.

    Article  Google Scholar 

  • Narayanan, B., Sharma, S., and Razzaque, M., (2016). Trade facilitation in the commonwealth: an economic analysis. Margin Journal of Applied Economic Research 10 (3), 305–336. https://doi.org/10.1177/0973801016645218.

    Article  Google Scholar 

  • New Partnership for Africa Development. (NEPAD, 2015). Agriculture in Africa: Transformation and outlook. NEPAD. Retrieved online November 14, 2019 from: https://www.nepad.org/caadp/publication/agriculture-africa.

  • Nkamleu, G. B. (2004). Productivity growth, technical progress and efficiency change in African agriculture. African Development Review, 16 (1), 203–222.

    Article  Google Scholar 

  • Organization for Economic Co-operation and Development—Food and Agriculture Organization (OECD-FAO, 2016). Agricultural Outlook 2016–2025. FAO-OECD.

    Google Scholar 

  • Ploughshares. (2007). Human Development and Armed Conflict. Retrieved online December 5, 2019 from: http://www.ploughshares.ca/imagesarticles/ACR07/humdev06.pdf.

  • Portugal-Perez, A., and Wilson, J. S. (2009). Why trade facilitation matters to Africa. World Trade Review, 8 (3), 379.

    Article  Google Scholar 

  • Rahman, S., and Salim, R. (2013). Six decades of total factor productivity change and sources of growth in Bangladesh agriculture (1948–2008). Journal of Agricultural Economics, 64 (2), 275–294.

    Article  Google Scholar 

  • Ravallion, M., and Chen S. (2012). Monitoring Inequality. Mimeo. Retrieved online December 5 from: https://blogs.worldbank.org/developmenttalk/files/developmenttalk/monitoring_inequality_table_1_pdf.

  • Sakyi, D., Bonuedi, I., and Opoku, E. E. O. (2018). Trade Facilitation and Social Welfare in Africa. Journal of African Trade, 5, 35–53.

    Article  Google Scholar 

  • Schultz, T. W. (1956). Reflections on agricultural production, output and supply. Journal of farm Economics, 38 (3), 748–762.

    Article  Google Scholar 

  • Seck, A. (2016). Trade facilitation and trade participation: are sub-Saharan African firms different? Journal of African Trade 3 (1–2), 23–39.

    Article  Google Scholar 

  • Seini, A. W. (2002). Political Instability and Agricultural Policy Dynamics. Law and Politics in Africa, Asia, and Latin America, 35 (2): 414–430.

    Google Scholar 

  • Sinha, S., and Lipton, M. (1999) Damaging Fluctuations, Risk and Poverty: A Review. World Bank.

    Google Scholar 

  • Stijns, J. -P. (2015). Recent Trends in Banking in Sub-Saharan Africa: From Financing to Investment. European Investment Bank, Luxembourg.

    Google Scholar 

  • Tittonell, P., and Giller, K. (2012). When Yield Gaps Are Poverty Traps: The Paradigm of Ecological Intensification in African Smallholder Agriculture. Field Crops Research, 143 (1): 76–90.

    Article  Google Scholar 

  • United Nations Conference on Trade and Development. (UNCTAD, 2019). Economic Development in Africa Report 2019: Made in Africa—Rules of origin for enhanced intra-Africa trade. UNCTAD. Retrieved online November 13, 2019 from: https://unctad.org/en/pages/PublicationWebflyer.aspx?publicationid=2463.

  • United Nations Development Program. (UNDP, 2010). Human Development Report 2009. Technical Report. UNDP.

    Google Scholar 

  • United Nations Department of Public Information. (UNDPI, 2007). Africa Progress. UNDPI. Retrieved online December 5, 2019 from: http://www.un.org/millenniumgoals/docs/MDGafrica07.pdf.

  • United Nations Economic Commission for Africa. (UNECA, 2019). Fiscal Policy for Financing Sustainable Development in Africa. UNECA. Retrieved online November 13, 2019 from: https://www.uneca.org/publications/economic-report-africa-2019.

  • Viet, N. C. (2015). The impact of trade facilitation on poverty and inequality: evidence from low- and middle-income countries. Journal of International Trade and Economic Development, 24 (3), 315–340. https://doi.org/10.1080/09638199.2014.898315.

    Article  Google Scholar 

  • Wiggins, S. (2005). Smallholder farming in Africa: Stasis and dynamics. In D. Belshaw and Livingstone A. L. (eds.), Renewing Development in Sub-Saharan AfricaPolicy, Performance and Prospects, (pp. 101–120). London, UK: Taylor & Francis.

    Google Scholar 

  • World Health Organization. (WHO, 2014). The Health of the People: What Works. The African Regional Health Report 2014. Brazzaville, WHO Regional Office for Africa.

    Google Scholar 

  • Willis, G. W. (1990). The Effects of Political Instability on Economic Growth: A Case for Sub-Saharan Africa. Retrieved online December 4, 2019 from: https://corescholar.libraries.wright.edu/econ_student/82.

  • Wood, J. (2017). An Industrial Sector Analysis of the Factors Effecting FTA Negotiation Outcomes. Global Business Review. 18 (4) 1–16.

    Article  Google Scholar 

  • Wood, J., Wu, J., Li, Y., and Jang, H. (2017a). The Economic Impact of SPS Measures on Agricultural Exports to China: An Empirical Analysis Using the PPML Method. Social Sciences. 6 (51), 1–18.

    Article  Google Scholar 

  • Wood, J., Wu, J., Li, Y., and Kim, J. (2017b). TBT and SPS Impacts on Korean exports to China: empirical analysis using the PPML method. Asian-Pacific Economic Literature. 31 (2), 96–114.

    Article  Google Scholar 

  • Wood, J., Wu, J., Li, Y., and Kim, J. (2019a). The Impact of TBT and SPS Measures on Japanese and Korean Exports to China. Sustainability. 11 (21), 6141.

    Article  Google Scholar 

  • Wood, J., Li, Y., and Wu, J. (2019b). An Analysis of the Trends and Determinants of Intra-Industry Trade Between China and Asia Pacific Economic Cooperation Member Countries. Singapore Economic Review. https://doi.org/10.1142/S0217590819500486.

  • World Economic Forum. (2014). Global Gender Gap Report 2014. Retrieved online December 6, 2019 from: http://reports.weforum.org/global-gender-gapreport-2014/.

Download references

Author information

Authors and Affiliations

Authors

Corresponding author

Correspondence to Jacob Wood .

Editor information

Editors and Affiliations

Rights and permissions

Reprints and permissions

Copyright information

© 2020 Springer Nature Singapore Pte Ltd.

About this chapter

Check for updates. Verify currency and authenticity via CrossMark

Cite this chapter

Wood, J., Habimana, O. (2020). An Overview: A Multidimensional Economic Assessment of Africa. In: Wood, J., Habimana, O. (eds) A Multidimensional Economic Assessment of Africa. Frontiers in African Business Research. Springer, Singapore. https://doi.org/10.1007/978-981-15-4510-8_1

Download citation

Publish with us

Policies and ethics