African Economic Growth Revisited

ABSTRACT

This paper presents an updated analysis of the patterns of economic development in Africa over the last 60 years. The analysis stresses the heterogeneity of development trajectories among sub‐Saharan African (SSA) countries. We examine the joint dynamics of income and population in 35 SSA countries. We document how population and income interact as they affect income dynamics. We uncover evidence of resilience as economic growth responds positively to adverse economic conditions. Our results also show negative effects of population on per‐capita income and little support for endogenous growth. While we document the presence of much heterogeneity in income dynamics, we also find that this heterogeneity is difficult to explain, reflecting the complexities of the process of economic growth and a limited understanding of the structural transformations that support economic development.