Africa and Arab Gulf states : Divergent Development Paths and Prospects for Convergence

Fofack, Hippolyte

关键词: ACTUAL VALUES;    ADJUSTMENT MECHANISMS;    ADVERSE EFFECT;    ADVERSE EFFECTS;    ADVERSE SHOCKS;   

DOI  :  10.1596/1813-9450-5025
RP-ID  :  WPS5025

学科分类：社会科学、人文和艺术（综合）

来源: World Bank Open Knowledge Repository

【 摘 要 】

In spite of the similarities betweenSub-Saharan Africa and the Arab Gulf region (GulfCooperation Council states), development policiesimplemented in these two regions of the world have producedmarkedly different and even divergent outcomes. While GulfCooperation Council states have drawn on hydrocarbonrevenues to dramatically transform their economic landscape,Sub-Saharan African countries have exhibited abysmaleconomic and social outcomes. The remarkable increase inpersonal income and large current account surpluses in ArabGulf states is in sharp contrast with widespread poverty andrecurrent balance of payments crises in Sub-Saharan Africa.This paper reviews the possible causes of these divergentdevelopment paths and discusses the prospects for economicconvergence in the new globalization landscape of growingtrade ties between the two regions. In particular, it showsthat development models underpinned by institutionalcontinuity and intergenerational accountability couldenhance long-run growth in Sub-Saharan Africa and incomeconvergence between the two regions.