The “Africa Rising”: An Empirical Analysis of the Determinants of Per-Capita Growth

In developing economies, the race toward inclusive development has prompted researchers to reconsider drivers of growth in view achieving Sustainable Development Goals (SDGs). This study aims explore determinants African after analysing reference literature select explanatory variables. The paper identifies robust 54 countries over period 2010-2019, where data source is more complete.As a source, main international organisations (UN, WB, IMF) have been considered. We employ system dynamic panel estimator (GMM-sys) without and with added exogenous regressors for robustness check. As far as we know, not found any studies and/or using GMM estimators referring last decade. used real per-capita GDP dependent variable. Our findings indicate that, addition initial conditions GDP, different macroeconomic factors such fixed investments, inflation, openness, productivity, unemployment, received remittance, external debt, terms-of-trade imports exports from or HDCs, LMDCs Southern-Asia are robustly correlated growth.We conclude that institutional business environments particularly important explaining growth.