The Impact of Reform on the Economic Growth Trajectory of Sub-Saharan Africa

Abstract

The research examines why sub-Saharan African (SSA) nations have seen unsatisfactory economic development by assessing the reform programmes implemented during the last three decades. Based on an enhanced neoclassical growth model framework generated from a dynamic panel for 12 African nations from 1995 to 2019 using data from the LSDCV dynamic panel. The findings revealed that insufficient changes, particularly in governance and the institutional environment, had been implemented. Stability in the macroeconomic environment, structural reform, and physical infrastructure are all necessary for an efficient reform process and development of the developing world's growth prospects. Reform implies that it is political, social, and economical simultaneously. Political and economic reform should be carried out in tandem.