AfDB: Championing inclusive growth across Africa. A blog by the former Chief Economist and Vice-President
For the past decade, Africa has had strong growth. A new economic momentum has been created. The continent weathered the financial crisis and has bounced back. But headline economic growth is not enough. Deliberate policies to reduce inequalities and promote inclusion are now needed more than ever before. It is time to focus on what people want: decent work, a living wage, access to basic service, more democracy and accountable governments. Africa and its people aim to be a pole of growth in the decades ahead. Read more
Every second week of February, downtown Cape Town turns into a milling sea of humanity as serious looking chiefs of mining companies, those of their suppliers, and other personalities closely related to the industry stream from one lecture hall to the other and one exhibition to the next in search of new ideas, new machines, and new sources of financing.
According to the 2013 United Nations Conference on Trade and Development World Investment Report, the value of global trade is currently estimated at US $20 trillion. Trade in intermediate goods and services that are incorporated at various stages of production accounts for two-thirds of global trade.
In the recent book I co-authored with Eliphas Ndou (Economist at the South Africa Reserve Bank Research Development), entitled “Monetary Policy and the Economy in South Africa”, we discuss some of the different empirical and pertinent monetary policy questions in South Africa. Using a Bayesian VAR approach the book assesses the linkage of monetary policy with various economic variables.
The fifth meeting of the BRICS countries (Brazil, Russia, India, China and South Africa) held in Durban, South Africa, from March 26 to 27, 2013, was seen as an opportunity for Africa to strengthen its ties with these major emerging economies. The theme of the summit was “BRICS and Africa – partnerships for integration and industrialization” with the goal to unlock potential for cooperation between the BRICS and Africa.
Compared with other regions, African countries have a low stock of infrastructure, particularly in energy and transportation, and the potential for information and communication technologies (ICTs) has not been fully harnessed. This pronounced infrastructure deficit, coupled with burdensome trade regulations, has raised the cost of doing business and constrained domestic productivity.