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5.2 Is it factor accumulation or total factor productivity that drives growth in Africa?: Economic Report on Africa 2007
To investigate the link between growth and diversification, it was important to first quantify the contribution of TFP to economic growth. This section analyses the sources of growth for African countries using the standard growth accounting method, making it possible to disaggregate the shares of growth contributed by TFP, capital and labour. Growth in output is the sum of the growth in capital, labour and TFP. Capital accumulation is an essential element in the growth process, as it enlarges the economy’s capacity to produce. Increases in labour or labour force have traditionally been considered a positive factor in stimulating economic growth.

Other stimulating economic growth Related Articles

Accessing Government Funding in Canada
Whether you agree with it or not, Canadian governments, at all levels, are actively involved in the business community. Each year they award hundreds of millions of dollars to small, medium and large enterprises in the hopes of stimulating local economies, fostering economic development and creating employment.

Mobility as a Driver for Economic Development: Tanzania Case Study
As economic growth and industrialization accelerate and livelihoods and incomes improve, so the demand for mobility increases. However, in much of the developing world, demand for mobility solutions to drive economic growth continues to outpace supply, while paradoxically the growing number of vehicles and other mobility solutions has not been matched by improved infrastructure. Business is stepping up efforts to understand and address the sustainable mobility issues being faced by developing economies.
What can business and governments do to promote SMEs?
Poverty remains a major challenge to sustainable development, environmental security, global stability and a truly global market. The key to poverty alleviation is economic growth that is inclusive and reaches the majority of people. Improving the performance and sustainability of local entrepreneurs and small and medium enterprises (SMEs), which represent the backbone of global economic activity, can help achieve this type of growth.
4.0 Diversification trends in Africa: Economic Report on Africa 2007
The diversification of African economies is one way through which the recent economic growth achievements could be sustained. Africa’s economic transformation can be achieved through both horizontal and vertical diversification. In addition, such diversification will help to build competitive economies that can productively be integrated into the global economy. Diversification is therefore a pre-condition if Africa is to register accelerated development. The scaling-up of current real growth to desired levels and in a broad manner can also be sustained if there is deepening in the diversification of African economies.
5.2 Is it factor accumulation or total factor productivity that drives growth in Africa?: Economic Report on Africa 2007
To investigate the link between growth and diversification, it was important to first quantify the contribution of TFP to economic growth. This section analyses the sources of growth for African countries using the standard growth accounting method, making it possible to disaggregate the shares of growth contributed by TFP, capital and labour. Growth in output is the sum of the growth in capital, labour and TFP. Capital accumulation is an essential element in the growth process, as it enlarges the economy’s capacity to produce. Increases in labour or labour force have traditionally been considered a positive factor in stimulating economic growth.
Conclusions - Promoting Growth in Sub-Saharan Africa: Learning What Works
Both domestic and external factors contributed to sub-Saharan Africa's poor overall economic performance in the 1980s and early 1990s. Key constraints to growth included inappropriate economic policies, inadequate human capital development, and low levels of private investment. But for the first time in a generation, there is evidence of economic progress in an increasing number of countries in the region.

HUMAN RESOURCE DEVELOPMENT AND ATTRACTING INWARD FDI
One of the characteristics of rich industrial economies is the availability of a workforce with a high level of human capital. Whether human capital has been the key driver of economic prosperity or vice-versa is still a matter of debate. Nevertheless, long time series trends in educational attainment and economic growth during the last century indicate that HRD and economic prosperity went hand in hand10. Some developing countries followed similar trends in human capital and economic growth. What was distinctive about these developing countries is that they appeared to have realised large economic benefits in attracting MNEs into host economies, and have thus mobilised inward FDI to attain rapid economic growth.
What s Holding Back Africa s Growth?
This plenary session discussed the contributing factors to Africa s poor economic growth, including the conclusions of the World Economic Forum s Africa Competitiveness Report 2004, and the actions that governments and business can take to promote economic growth. The discussion included calls from business participants and the panel for action against corruption on the continent.

Economic Growth, Sustainable Development, and the Millennium Development Goals (MDGs)
Economic growth is essential for sustainable development and improving social outcomes.4 Growth usually—but not always—benefits the poor; in about 90 percent of the cases in which countries have experienced per capita GDP growth of at least 2 percent per year over a five-year period, the poor also experienced rising real incomes.
What Recovery
THE Bureau of Economic Analysis released its estimate of GDP growth, and the pace of expansion was revised down again. Currently we are below the rate of population growth, which is to say that in per capita terms output continues to shrink. So how are things looking forward?
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