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After an initial rebound from the 2009 world economic crisis, Africa's economy was undermined in the year 2011 by the Arab uprisings. The continent's growth fell back from 5% in 2010 to 3.4% in 2011. With the recovery of North African economies and sustained improvement in other regions, growth across the continent is expected to accelerate to ...
Countries in Africa are sorted according to data from the International Monetary Fund. [1] The figures presented here do not take into account differences in the cost of living in different countries, and the results can vary greatly from one year to another based on fluctuations in the exchange rates of the country's currency. [2]
They try to explain Africa's economic development as subject to European institutional decisions of the past. European colonial governments had no incentive to create institutions fostering economic development in African colonies, but rather economic extraction of given resources.
Daphne Greenwood and Richard Holt distinguish economic development from economic growth on the basis that economic development is a "broadly based and sustainable increase in the overall standard of living for individuals within a community", and measures of growth such as per capita income do not necessarily correlate with improvements in ...
The economic history of the world encompasses the development of human economic activity throughout time. It has been estimated that throughout prehistory, the world average GDP per capita was about $158 per annum (inflation adjusted for 2013), and did not rise much until the Industrial Revolution .
In Africa, states that have emphasized import-substitution development, such as Zimbabwe, have typically been among the worst performers, while the continent's most successful non-oil based economies, such as Egypt, South Africa, and Tunisia, have pursued trade-based development. [22] According to economic historian Robert C. Allen, dependency ...
Development economics is a branch of economics that deals with economic aspects of the development process in low- and middle- income countries. Its focus is not only on methods of promoting economic development, economic growth and structural change but also on improving the potential for the mass of the population, for example, through health, education and workplace conditions, whether ...
The World Bank aims at giving a broad picture of development across Africa, including 53 countries in five different country-groups. [2] While most of the data is provided by the World Bank, a lot of it comes from different sources which is then put together under the World Bank Africa Development Indicators.