African Economic Development in a European Mirror: A Reassessment of African Growth Prospects
Stephen Broadberry, Professor of Economic History, Department of Economics, University of Warwick
Dr Leigh Gardner, Lecturer in Economic History, LSE
Discussant: Gregory Kronsten, Head, Macroeconomic and Fixed Income Research, FBN Capital
Chair: André Astrow, Senior Consultant, International Economics, Chatham House
Professor Broadberry and Dr Gardner will present their Chatham House-CAGE Briefing Paper, Africa's Growth Prospects in a European Mirror: A Historical Perspective. They will discuss how the relatively rapid growth rates achieved by many African countries during the first decade of the 21st century have prompted speculation that Africa is finally on a path to convergence with Asia and Latin America, but they will argue that an African transition to modern economic growth would require a break in the boom-and-bust pattern which has characterized African economic performance during the 20th century.
According to the speakers, placing Africa's recent economic performance in a wider historical perspective suggests that the level of per capita income in Africa today is in the same range as medieval Europe, and that the institutional changes needed to ensure sustained economic growth have not taken place; growth reversals therefore remain a serious threat to Africa's future prosperity.
This will be the fifth paper in the Chatham House-CAGE series.
Attendance at this event is by invitation only.