Growth and African Poverty

The conventional wisdom is that Africa is doing very poorly.

This started to change about 15 years ago. It’s now becoming clearer that the growth spurt that began in Africa then is ongoing, widespread, and robust.

Critics have said that this is because of rising resources prices. Yet, this growth has occurred in countries that have not benefitted from rising resource prices.

Additionally, large amounts of this growth have occurred to per capita incomes at the bottom of the income distribution.