1945

Obstacles to Africa’s development

A country’s growth rate generally depends on endowments, preferences, institutions, macroeconomic stability, an outward orientation, and financial market development. Indeed, the empirical and theoretical literature on growth and development has identified at least 62 statistically significant explanatory variables influencing the growth performance of different economies. Of these, three have consistently been reported as significant:

Related Subject(s): Economic and Social Development
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