Growth and Institutions in African Development

Recent years have seen a sustained research effort exploring the African development experience. The extant literature has offered a large set of explanations as to why the African development record has lagged behind that of other regions of the developing world. This new volume brings international contributors together to focus on the role of growth and institutions.

First, it provides brief evidence on the growth and institutional records, as well as on development outcomes, during the post-independence period. Second, it targets certain growth determinants, including industrial embeddedness, innovation, exchange rate regimes, and environmental quality. Third, it sheds light on the dynamics and distribution of growth, and on growth-enhancing sectors of the economy. Finally, it investigates several issues of institutional development, as well as institutions generating development outcomes.

Though focused on these two key areas, the coverage strives to achieve a comprehensive analysis of how Africa’s development may have been enhanced or undermined and to offer lessons for the future. This volume is essential reading for all scholars of development economics and development studies.

Augustin K. Fosu is Professor of Economics at the University of Ghana, Ghana, and Extraordinary Professor at the Faculty of Economic and Management Sciences, University of Pretoria, South Africa. He is also Research Associate, Centre for the Study of African Economies (CSAE), University of Oxford, UK, and was Deputy Director of UN University-WIDER, Finland (2006-2013).