Africa Rising: More than a Natural Resource Story

Many people think that Africa’s growth takeoff since the mid-1990s has been simply a commodity story—a ride fueled by windfall gains from high commodity prices. However, in its latest Regional Economic Outlook: Sub-Saharan Africa a team of economists from the IMF’s African Department come to quite a different conclusion: success in most of the fastest-growing economies in the region was not driven by natural resources. Sound policy making, stronger institutions, and better governance played a much bigger part.

Opinion 3 MIN