Economic Development in Africa report 2014

Catalysing Investment for Transformative Growth in Africa

image of Economic Development in Africa report 2014
The Economic Development in Africa Report 2014 addresses the current state of development in Africa. Over the past decade, African countries have had relatively good economic growth performance. But average investment rates on the continent remain low relative to what is considered necessary to achieve national development goals and relative to the average rate for developing countries. These facts suggest that Africa’s recent growth may be fragile and that it is unlikely to be sustained in the medium to long term if current trends continue. The key question, then, is how can African Governments catalyse investment for sustained and transformative growth? This report addresses that question

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Policies for catalysing investment in Africa: international aspects

Although the primary responsibility for catalysing investment in Africa rests principally with national Governments, the international community also has an important role to play because the global environment has a bearing on the ability of African countries to effectively boost and use investment for transformative growth in Africa. The global environment also affects the kinds of policy instruments and space that African Governments have with which to promote investment. In this context, concerted actions are needed at the national, regional and international levels to stimulate investment in Africa. Against this backdrop, this chapter focuses on selected international economic issues that affect investment in Africa. These are strengthening linkages between local and foreign enterprises, stemming capita flight to release more resources for investment, using aid to catalyse investment, and boosting investment through fostering international trade.

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