Over the past decade Sub-Saharan Africa has seen a remarkable turnaround in economic performance. After years of stagnation, economic growth has spurted gross domestic product (GDP) grew from an annual average rate of less than 2 percent in 1978-95 to nearly 6 percent over 2003-08. Inflation is...

This paper discusses recent trends and investigates the drivers of capital flows across regions in the world, with emphasis on Sub-Saharan Africa. The post-global financial crisis behavior of capital flows into Sub-Saharan Africa is unique and differs from that of global capital flows. The...

Infrastructure is viewed as a crucial ingredient to foster growth and productivity. Amid the post -- global financial crisis slowdown, Sub-Saharan Africa is in dire need to continue the growth momentum it experienced during the period of the Africa Rising narrative. An emerging consensus in the...

This paper presents new empirical evidence on how fiscal space in Sub-Saharan Africa has evolved over the past 15 years. Fiscal space is a multi-dimensional concept that is proxied by indicators capturing aspects of fiscal sustainability, balance sheet vulnerabilities, external debt positions,...

This paper studies the cyclical aspects of fiscal policy in Sub-Saharan Africa countries during 1970–2014. It compares the cyclical properties of real government consumption in the region with those in other developing regions and high-income countries, and examines whether there has been a...

Urbanization is a source of dynamism that can enhance productivity and increase economic integration, a principle evident from the experience of today’s high-income countries and rapidly emerging economies. Indeed, during the Industrial Age, no country has achieved sustained increases in...

External headwinds and domestic difficulties are impacting economic activity in Sub-Saharan Africa. Sub-Saharan Africa’s growth will decelerate in 2015 amid weak global economic conditions. Some countries, however, will continue posting solid growth. Sub-Saharan Africa is entering a period of...

This paper studies the cyclical aspects of fiscal policy in Sub-Saharan Africa countries during 1970?2014. It compares the cyclical properties of real government consumption in the region with those in other developing regions and high-income countries, and examines whether there has been a...

Ghana is experiencing its third gold rush, and this paper sheds light on the socioeconomic impacts of this rapid expansion in industrial production. The paper uses a rich data set consisting of geocoded household data combined with detailed information on gold mining activities, and conducts two...

This paper discusses recent trends and investigates the drivers of capital flows across regions in the world, with emphasis on Sub-Saharan Africa. The post-global financial crisis behavior of capital flows into Sub-Saharan Africa is unique and differs from that of global capital flows. The...