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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.
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 idea of economic development, as it describes the movement of a population towards a higher standard of living, began with Western Europe's industrialization during the 18th century however, scholars only began to analyze the difference in development between different countries after World War II. [7]
Africa Rising is a term coined in 2011 to explain rapid economic growth across Sub-Saharan Africa to date since 2000 and the inevitability of its subsequent continuation. The Financial Times defines Africa Rising as a "narrative that improved governance means the continent is almost predestined to enjoy a long period of mid-to-high single-digit ...
Once the people in these countries have become educated enough and they realize their place in the world economy, they can also demand help from the core countries. Although unlikely, due to the fact that the core countries rely on the exploitation of the periphery, there have been pushes for core countries to help better the periphery countries.
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.