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 transcript:

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

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

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

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

P.C. GDP GROWTH AND LEVEL, PROGRESS BY COUNTRY Country Average P.C. GDP growth ( ) Quintile Rank P.C. GDP, 2013 (constant 2005) Quintile Rank P.C. GDP, 2013 (PPP adjusted) Quintile Rank Angola Benin Botswana Burkina Faso Burundi Cabo Verde Cameroon CAR Chad Comoros Congo, D. R Congo, Rep Cote d'Ivoire Eq. Guinea

Country Average P.C. GDP growth ( ) Quintile Rank P.C. GDP, 2013 (constant 2005) Quintile Rank P.C. GDP, 2013 (PPP adjusted ) Quintile Rank Eritrea Ethiopia Gabon Gambia Ghana Guinea Guinea-Bissau Kenya Lesotho Liberia Madagascar Malawi Mali Mauritania Mauritius Mozambique Namibia

Country Average P.C. GDP growth ( ) Quintile Rank P.C. GDP, 2013 (constant 2005) Quintile Rank P.C. GDP, 2013 (PPP adjusted) Quintile Rank Niger Nigeria Rwanda Sao Tome Senegal Seychelles Sierra Leone South Africa Sudan Swaziland Tanzania Togo Uganda Zambia Zimbabwe

Human Development Index (HDI), Data source: UNDP, 2015 DEVELOPMENT OUTCOME

Progress on HDI by Country: Change in HDI ( ) CountryHDI, changeQuintile rank Benin Botswana Burundi Cameroon CAR9.744 Congo2.065 Congo D. R Côte d'Ivoire Gambia Ghana Kenya Lesotho Malawi Mali Mauritania Mauritius24.253

Progress on HDI by Country: Change in HDI ( ), cont’d. CountryHDI, changeQuintile rank Mozambique Namibia8.214 Niger Rwanda Senegal Sierra Leone South Africa6.205 Sudan Swaziland Tanzania Togo Uganda Zambia Zimbabwe0.835 SSA25.79 World17.45

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 Congo D. R Côte d'Ivoire0.454 Eq. Guinea0.562 Eritrea0.385 Ethiopia0.444

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

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

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

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

Thank you! Prof. Augustin K. FOSU Visiting Professor of Economics Aalto University Helsinki, FINLAND