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Developing countries as the new global growth engineContribution to world GDP, PPP growth
Source: IMF (2010)
New optimism in Africa
The Economist, 6 February 2011
“Sub-Saharan Africa in 2011 has an unprecedented opportunity for transformation
and sustained growth” Verdsbanken
• Reasons: – Sustained economic growth since the nineties– Stability, democracy– Robust economic reforms– Increased revenues from exports of natural
resources– Increased consumption
Shares of emerging and traditional partners in Africa’s trade 1992-2009
(in percentage)
Source: OECD Development Centre calculations based on ComTrade Data
Sources of African FDI inflows 1995-2008
Source: UNCTAD, OECD
Distribution of Africa’s total trade with emerging partners (2009, in percentage)
Source: OECD Development Centre calculations based on ComTrade data.
Shifting Wealth, OECD, 2010, p. 74
Shifting Wealth, OECD, 2010, p. 88
However, new dependency?