04737oam 22010814 450 991078834170332120230721045612.01-4623-1441-41-4519-9837-61-4518-7145-797866128422211-282-84222-6(CKB)3170000000055157(SSID)ssj0000944027(PQKBManifestationID)11559071(PQKBTitleCode)TC0000944027(PQKBWorkID)10982754(PQKB)10713499(OCoLC)762819540(MiAaPQ)EBC1605866(IMF)WPIEE2008287(EXLCZ)99317000000005515720020129d2008 uf 0engurcnu||||||||txtccrExplaining Episodes of Growth Accelerations, Decelerations, and Collapses in Western Africa /Gonzalo Salinas, Patrick ImamWashington, D.C. :International Monetary Fund,2008.1 online resource (46 pages) illustrationsIMF Working PapersIMF working paper ;WP/08/287Bibliographic Level Mode of Issuance: Monograph1-4519-1582-9 The growth literature has had problems explaining the "sub-Saharan African growth dummy" in cross-country regressions. Instead of taking the usual approach of focusing on long-run growth and assuming that sub-Saharan countries have homogenous parameters in growth regressions, we concentrate our analysis on episodes of growth turnarounds (identifying growth accelerations, decelerations, and collapses) and use only West African countries in our sample. The driving force of growth turnarounds are estimated by analyzing external shocks, political and institutional changes, economic reforms, and indicators particularly relevant to the region. Using probits for a group of 22 Western African economies for the period 1960-2006, we find that growth accelerations are most clearly associated with external shocks, economic liberalization, political stability, and closeness to the coast; decelerations occurred during short-lived regimes and when corruption indices weakened; and collapses are linked to external shocks, falling domestic credit, and proximity to the coast. We then identify policy implications.IMF Working Papers; Working Paper ;No. 2008/287Business cyclesAfrica, WestEconometric modelsEconomic developmentAfrica, WestEconometric modelsFinancial crisesAfrica, WestEconometric modelsExports and ImportsimfMacroeconomicsimfCriminologyimfEmpirical Studies of TradeimfAggregate Factor Income DistributionimfRemittancesimfForeign AidimfBureaucracyimfAdministrative Processes in Public OrganizationsimfCorruptionimfInternational economicsimfCorporate crimeimfwhite-collar crimeimfTerms of tradeimfIncomeimfForeign aidimfEconomic policyimfnternational cooperationimfInternational financeimfInternational reliefimfAfrica, WestEconomic conditionsEconometric modelsEquatorial Guinea, Republic ofimfBusiness cyclesEconometric models.Economic developmentEconometric models.Financial crisesEconometric models.Exports and ImportsMacroeconomicsCriminologyEmpirical Studies of TradeAggregate Factor Income DistributionRemittancesForeign AidBureaucracyAdministrative Processes in Public OrganizationsCorruptionInternational economicsCorporate crimewhite-collar crimeTerms of tradeIncomeForeign aidEconomic policynternational cooperationInternational financeInternational relief338.542Salinas Gonzalo1493457Imam Patrick1472655DcWaIMFBOOK9910788341703321Explaining Episodes of Growth Accelerations, Decelerations, and Collapses in Western Africa3716468UNINA