| Description |
1 online resource (29 pages) : color illustrations |
| Series |
IMF working paper, 1018-5941 ; WP/15/2 |
|
IMF working paper ; WP/15/2.
|
| Contents |
Cover; Contents; A. Introduction; B. Literature Review: Determinants of Total Factor Productivity; C. Stylized Facts; D. Empirical Analysis; E. Conclusions; References; Figures; 1. SMICs of SSA: Growth Development; 2. SSA MICs Growth Decomposition; 3. Factors Affecting Productivity in Selected MICs; Tables; 1. Structural Impediments to Productivity Enhancement in Selected MICs; 2. Summary of the empirical results; 3. Dynamic Panel Result (System GMM); 4. Panel Group Mean FMOLS Results; 5. Panel Probit Analysis, TFP; 6. Predictive Probabilities; Appendixes |
| Summary |
Many small middle-income countries (SMICs) in sub-Saharan Africa (SSA) have experienced a moderation in growth in recent years. Although factor accumulation, most notably capital deepening, was crucial to the success of many SMICs historically, this growth model appears to have run its course. The analysis in this paper suggests that the decline in the contribution of total factor productivity (TFP) to growth is largely responsible for the slowdown in trend growth in many SMICs, which highlights the need for policy actions to reinvigorate productivity growth. This paper explores the question of what kind of structural policies could boost productivity growth in SMICs and the political economy factors that may be contributing to the slow implementation of these critical reforms in these countries. The findings suggest that although macroeconomic stability and trade openness are necessary for productivity growth, they are not sufficient. SMICs need to improve the quality of their public spending, most notably in education to minimize the skill mismatch in the labor market, reduce the regulatory burden on firms, improve access to finance by small and medium-sized enterprises and create the enabling environment to facilitate structural transformation in these economies.--Abstract |
| Notes |
"January 2015." |
|
"African Department." |
|
"Prepared by Lamin Leigh, Ara Stepanyan, La-Bhus Fah Jirasavetakul, Andrew Jonelis, Ashwin Moheeput, Aidar Abdychev, Friska Parulian, and Albert Touna Mama." |
| Bibliography |
Includes bibliographical references (pages 21-24) |
| Notes |
Online resource; title from pdf title page (IMF.org Web site, viewed January 21, 2015) |
| Subject |
Economic development -- Africa, Sub-Saharan
|
|
Industrial productivity -- Africa, Sub-Saharan
|
|
Structural adjustment (Economic policy) -- Africa, Sub-Saharan
|
|
Fiscal policy -- Africa, Sub-Saharan
|
|
Government spending policy -- Education -- Africa, Sub-Saharan
|
|
Labor market -- Africa, Sub-Saharan
|
|
Economic development
|
|
Fiscal policy
|
|
Industrial productivity
|
|
Labor market
|
|
Structural adjustment (Economic policy)
|
|
Sub-Saharan Africa
|
| Form |
Electronic book
|
| Author |
Abdychev, Aidar.
|
|
International Monetary Fund. African Department.
|
| ISBN |
1484328434 |
|
9781484328439 |
|
