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Developing countries made considerable gains during the first decade of the 21st century. Their economies grew at unprecedented rates, resulting in large reductions in extreme poverty and a significant expansion of the middle class. But more recently that progress has slowed with an economic...
Persistent link: https://www.econbiz.de/10012956929
Developing countries made considerable gains during the first decade of the 21st century. Their economies grew at unprecedented rates, resulting in large reduction in extreme poverty and a significant expansion of the middle class. But more recently that progress has slowed with an economic...
Persistent link: https://www.econbiz.de/10012957710
We show that much of Africa's recent growth and poverty reduction can be traced to a substantive decline in the share of the labor force engaged in agriculture. This decline has been accompanied by a systematic increase in the productivity of the labor force, as it has moved from low...
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Africa's recent economic growth is at a historical high. The patterns associated with this growth appear to be quite different from the Asian experiences where rapid growth was fueled by labor intensive, export-oriented manufacturing. Because this pattern differs with our typical view of...
Persistent link: https://www.econbiz.de/10013026305
Manufacturing has made an important contribution to raising living standards in many parts of the world. Concerns about premature deindustrialization have made some observers skeptical about the potential for manufacturing to play this role in Africa. But employment in African manufacturing has...
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