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AFRICAN ECONOMIC DEVELOPMENT: AN OVERVIEW By Prof. Augustin K. Fosu Visiting Professor of Economics, Aalto University, Helsinki, FINLAND African Economic.

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Presentation on theme: "AFRICAN ECONOMIC DEVELOPMENT: AN OVERVIEW By Prof. Augustin K. Fosu Visiting Professor of Economics, Aalto University, Helsinki, FINLAND African Economic."— Presentation transcript:

1 AFRICAN ECONOMIC DEVELOPMENT: AN OVERVIEW By Prof. Augustin K. Fosu Visiting Professor of Economics, Aalto University, Helsinki, FINLAND African Economic Development, Lecture 1 19 th May 2015

2 GDP Annual Growth (%), Africa Vs. World (1961-2012) Data source: World Bank, 2013 GROWTH RECORD

3 P.C. GDP Growth Annual Growth, Africa vs. World (1961-2012) Data source: World Bank, 2013 GROWTH RECORD, CONT’D.

4 P.C. GDP, PPP (Constant 2005 US $), 1960-2012 Data source: World Bank, 2013 DEVELOPMENT OUTCOME

5 P.C. GDP GROWTH AND LEVEL, PROGRESS BY COUNTRY Country Average P.C. GDP growth (1995-2013) Quintile Rank P.C. GDP, 2013 (constant 2005) Quintile Rank P.C. GDP, 2013 (PPP adjusted) Quintile Rank Angola5.7312738174881 Benin1.283583317333 Botswana3.22270271152471 Burkina Faso3.372522316303 Burundi-1.04515557475 Cabo Verde5.9212739162101 Cameroon1.263989227392 CAR-0.34528355845 Chad3.701744320223 Comoros0.025613314004 Congo, D. R.-0.04528857835 Congo, Rep.1.0941961256802 Cote d'Ivoire0.5241079231072 Eq. Guinea20.901122801326851

6 Country Average P.C. GDP growth (1995-2013) Quintile Rank P.C. GDP, 2013 (constant 2005) Quintile Rank P.C. GDP, 2013 (PPP adjusted ) Quintile Rank Eritrea-0.945197511575 Ethiopia4.771295513364 Gabon-0.05569381186461 Gambia0.514450416084 Ghana3.542769338642 Guinea0.794307512135 Guinea-Bissau-0.505433413624 Kenya1.204632327053 Lesotho2.842974224943 Liberia11.49129958505 Madagascar-0.095271513694 Malawi2.14326457555 Mali2.053476415894 Mauritania1.293681329452 Mauritius3.61168791171461 Mozambique4.481433410705 Namibia2.4924565192761

7 Country Average P.C. GDP growth (1995-2013) Quintile Rank P.C. GDP, 2013 (constant 2005) Quintile Rank P.C. GDP, 2013 (PPP adjusted) Quintile Rank Niger0.48429158875 Nigeria3.7011056254232 Rwanda5.841401414264 Sao Tome2.283988228762 Senegal1.214796321703 Seychelles2.443148751237991 Sierra Leone1.703410414954 South Africa1.37360901124541 Sudan2.692771332652 Swaziland0.9242430264711 Tanzania3.002487423653 Togo0.964424413464 Uganda3.532418416213 Zambia3.2021054238002 Zimbabwe-1.395475417733

8 Human Development Index (HDI), 1990-2010 Data source: UNDP, 2015 DEVELOPMENT OUTCOME

9 Progress on HDI by Country: Change in HDI (1990-2013) CountryHDI, changeQuintile rank Benin38.922 Botswana17.163 Burundi33.772 Cameroon14.714 CAR9.744 Congo2.065 Congo D. R.5.965 Côte d'Ivoire18.823 Gambia31.773 Ghana14.134 Kenya13.534 Lesotho-1.355 Malawi46.191 Mali75.011 Mauritania32.803 Mauritius24.253

10 Progress on HDI by Country: Change in HDI (1990-2013), cont’d. CountryHDI, changeQuintile rank Mozambique82.071 Namibia8.214 Niger54.581 Rwanda112.551 Senegal26.263 Sierra Leone42.232 South Africa6.205 Sudan38.202 Swaziland-1.465 Tanzania37.982 Togo17.134 Uganda56.101 Zambia37.892 Zimbabwe0.835 SSA25.79 World17.45

11 HDI Level and Quintile Rank by Country, 2013 CountryHDI, 2013Quintile Rank Angola0.532 Benin0.483 Botswana0.681 Burkina Faso0.395 Burundi0.395 Cameroon0.502 Cape Verde0.641 CAR0.345 Chad0.375 Comoros0.493 Congo, R.0.561 Congo D. R.0.345 Côte d'Ivoire0.454 Eq. Guinea0.562 Eritrea0.385 Ethiopia0.444

12 HDI Level and Quintile Rank by Country, 2013, Cont’d. CountryHDI, 2013Quintile Rank Gambia0.444 Ghana0.571 Guinea0.395 Guinea-Bissau0.404 Kenya0.542 Lesotho0.493 Liberia0.414 Madagascar0.502 Malawi0.414 Mali0.414 Mauritania0.493 Mauritius0.771 Mozambique0.394 Namibia0.621 Niger0.345 Nigeria0.502 Rwanda0.512

13 HDI Level and Quintile Rank by Country, 2013, Cont’d. CountryHDI, 2013Quintile Rank Sao Tome0.562 Senegal0.493 Seychelles0.761 Sierra Leone0.375 South Africa0.661 Sudan0.474 Swaziland0.532 Tanzania0.493 Togo0.473 Uganda0.483 Zambia0.561 Zimbabwe0.493 Average SSA0.50 Average World0.70

14 Poverty Picture (US$1.25), 1981-2010 Data source: World Bank, 2013 DEVELOPMENT OUTCOME

15 Poverty Picture (US$2.00), 1981-2010 Data source: World Bank, 2013 DEVELOPMENT OUTCOME

16 Thank you! Prof. Augustin K. FOSU Visiting Professor of Economics Aalto University Helsinki, FINLAND afosu@isser.edu.gh

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