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CAIRO BOOKS's Description
Poverty in Africa is largely the outcome of slow growth. With the region
hosting 10 percent of the world's population but a staggering 30 percent of the
world's poor, the challenges it faces are enormous but NOT insurmountable. The
message of this book is clear - poverty-eradicating development in Africa is
possible. In fact, there are indications that Africa is at a turning point, and
there is growing momentum among front-runner economies in the region toward
higher and sustained growth. This study challenges African countries and their
development partners to consolidate and continue this momentum and to exploit
the advantages of the continent as a latecomer, particularly in innovation and
in drawing lessons from successful export-led growth experiences in Asia and
Latin America. Challenges of African Growth identifies opportunities,
constraints, and strategic choices that African countries face in their quest
for achieving the growth necessary for poverty alleviation. More important, the
study provides a broad menu of stategic options for ensuring not only that
countries embark on a growth path, but also that the growth is shared and
sustainable. The critical areas for action rest on four pillars: the investment
climate; infrastructure; innovation for increasing productivity and
competitiveness; and institutional capacity.