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Concluding Remarks: Enhancing Africa’s Trade: From Marginalization to an Export-Led Approach to Development
In the 19th and 20th centuries, trade has by and large been an engine of economic growth for the global economy. It has also acted as an engine of growth for particular national economies -- in the 19th century, Canada and Australia and in the 20th century, Japan. In recent years, trade has acted as an engine of growth for the newly industrializing countries of Southeast Asia, the so-called "Gang of Four", namely, South Korea, Taiwan, Hong Kong, and Singapore.
Policy Implications
The empirical work undertaken highlights a number of key policy-related and conventional variables that have significantly affected the growth performance of sub-Saharan Africa during 1981–97. To a large extent, it has also shown that the positive evolution of these variables has played an important role in the economic recovery of the region during 1995–97.

Other sustainable economic growth Related Articles

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.
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.
5.1 Employment, productivity and social dialogue: Working Out of Poverty
The ILO is mandated both by its Constitution and by the United Nations to examine the functioning of economic, social and financial policies from the perspective of employment creation as a central goal. Full, productive and freely chosen employment is the primary means of reducing and eventually eliminating extreme poverty. Moving toward this objective requires a steady and brisk pace of growth that is sustainable in environmental, social and economic terms.
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.
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.
Fiscal Balances and Growth
A prudent, sustainable fiscal position promotes economic growth.
The Overwhelming Logic of Sustainable Business
Steady consumer demand and the rapid growth of green industries makes sustainable business irresistibly appealing. For all economic enterprises from large corporations to small businesses, sustainable strategies and best practice are an important part of intelligent business planning. With numerous consumer and industry reports corroborating the ongoing growth of the green market, green is not just about adding cache, it is increasingly a matter of survival.

Sustainability Driven Innovation
Sustainable innovations are creating new business models, opening up new markets and providing competitive advantages. Sustainable innovation is also improving profitability. Companies around the world are demonstrating how innovative sustainable practices are bettering their bottom line. A focus on sustainability is enabling organisations to innovate, differentiate themselves and succeed. Although sustainable practices were once dismissed for being too costly, increasing numbers of companies are coming to the realization that sustainable innovations are a gateway to growth. Visionary business leaders who anticipate the winds of change and creatively develop sustainable products and processes will thrive in the rapidly changing economic landscape.
From Entrepreneurship to Entreprenology: New findings of entrepreneurial research
In a difficult global economic environment, it is more important than ever to put into place strong fundamentals reinforcing economic growth and development and it is more important than ever to establish a global World Union of SME supporting Organisations and Institutions as the basis for an effective and sustainable SME oriented policy focusing at practicable actions instead of well-intentioned declarations that could never really help SMEs to overcome difficult times and particular situations.

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