Technology Trap and Poverty Trap in Sub-saharan Africa

Technology Trap and Poverty Trap in Sub-saharan Africa
Author :
Publisher : World Bank Publications
Total Pages : 34
Release :
ISBN-10 :
ISBN-13 :
Rating : 4/5 ( Downloads)

Book Synopsis Technology Trap and Poverty Trap in Sub-saharan Africa by : Hippolyte Fofack

Download or read book Technology Trap and Poverty Trap in Sub-saharan Africa written by Hippolyte Fofack and published by World Bank Publications. This book was released on 2012 with total page 34 pages. Available in PDF, EPUB and Kindle. Book excerpt: Since the industrial revolution, advances in science and technology have continuously accounted for most of the growth and wealth accumulation in leading industrialized economies. In recent years, the contribution of technological progress to growth and welfare improvement has increased even further, especially with the globalization process which has been characterized by exponential growth in exports of manufactured goods. This paper establishes the existence of a technology trap in Sub-Saharan Africa. It shows that the widening income and welfare gap between Sub-Saharan Africa and the rest of world is largely accounted for by the technology trap responsible for the poverty trap. This result is supported by empirical evidence which suggests that if countries in Sub-Saharan Africa were using the same level of technology enjoyed by industrialized countries income levels in Sub-Saharan Africa would be significantly higher. The result is robust, even after controlling for institutional, macroeconomic instability and volatility factors. Consistent with standard one-sector neoclassical growth models, this suggests that uniform convergence to a worldwide technology frontier may lead to income convergence in the spherical space. Overcoming the technology trap in Sub-Saharan Africa may therefore be essential to achieving the Millennium Development Goals and evolving toward global convergence in the process of economic development.


Technology Trap and Poverty Trap in Sub-saharan Africa Related Books

Technology Trap and Poverty Trap in Sub-saharan Africa
Language: en
Pages: 34
Authors: Hippolyte Fofack
Categories:
Type: BOOK - Published: 2012 - Publisher: World Bank Publications

DOWNLOAD EBOOK

Since the industrial revolution, advances in science and technology have continuously accounted for most of the growth and wealth accumulation in leading indust
Technology Trap and Poverty Trap in Sub-Saharan Africa
Language: en
Pages: 34
Authors: Hippolyte Fofack
Categories:
Type: BOOK - Published: 2016 - Publisher:

DOWNLOAD EBOOK

Since the industrial revolution, advances in science and technology have continuously accounted for most of the growth and wealth accumulation in leading indust
Poverty Traps, Aid, and Growth
Language: en
Pages: 60
Authors: Aart Kraay
Categories: Economic assistance
Type: BOOK - Published: 2005 - Publisher:

DOWNLOAD EBOOK

"The authors examine the empirical evidence in support of the poverty trap view of underdevelopment. They calibrate simple aggregate growth models in which pove
The Future of Work in Sub-Saharan Africa
Language: en
Pages: 59
Authors: Aidar Abdychev
Categories: Business & Economics
Type: BOOK - Published: 2018-12-17 - Publisher: International Monetary Fund

DOWNLOAD EBOOK

Far-reaching changes in technology, climate, and global economic integration are transforming the world of work in ways that we do not yet fully understand. Wil
African Poverty at the Millennium
Language: en
Pages: 172
Authors: Howard White
Categories: Business & Economics
Type: BOOK - Published: 2001-01-01 - Publisher: World Bank Publications

DOWNLOAD EBOOK

This explores the complex nature of poverty in Africa. It identifies its political and social causes and assesses the impact of recent economic growth on the we