Post-Covid-19 Recovery and Resilience: Leveraging Reforms for Growth and Inclusion in Sub-Saharan Africa
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Summary:
Covid-19 has exacerbated economic and social vulnerabilities across Sub-Saharan Africa (SSA). There is a risk that growth could be lower for longer, with a setback to development. Post-pandemic reforms thus become even more important, especially with constrained scope for fiscal and monetary stimuli. Reforms could boost per capita growth by an additional 0.3-1.3 percentage points, relative to the 1.9 percent average since 2010. Such growth would reduce per capita income doubling time from 37 years to about 22 years. Low-income countries stand to gain the most from reforms. The largest gains come from governance, products markets, and factor accumulation. Importantly, these reforms can be implemented in the post-pandemic environment characterized by weaker social and distributional outcomes.
Series:
Working Paper No. 2021/045
Subject:
Commodity markets Income Labor market reforms Labor markets Structural reforms
Frequency:
regular
English
Publication Date:
February 19, 2021
ISBN/ISSN:
9781513570044/1018-5941
Stock No:
WPIEA2021045
Pages:
33
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