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For the first time since 2008, the West African region recorded a growth rate below the continental average (3.7% in 2015). With growth estimated at 3.3%, the West African economy was less dynamic than that of East Africa (6.3%), Central Africa (3.7%) and North Africa (3.5 %), but stronger than that of Southern Africa (2.8%). This performance is mainly due to the economic downturn in Nigeria.
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According to the 2016 Ibrahim Index of African Governance (IIAG), governance in Africa has overall slightly improved over the past decade but the security situation has clearly become worse: two out of three Africans live in a country where safety and the rule of law deteriorated over the past ten years. The ECOWAS area is the second best-performing African region, after southern Africa.
The economy continued its robust two-year growth in 2014 at an estimated 8.3%, with similar expansion expected in 2015 and 2016, driven by internal and external demand. Public and private infrastructure investment and household consumption accounted for most internal demand, while external demand boosted commodity exports thanks to higher world prices.
With Africa’s population set to double by 2050, modernising local economies will be vital to make the continent more competitive and to increase people’s living standards, according to the African Economic Outlook 2015, released at the African Development Bank Group’s 50th Annual Meetings.
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4-page policy note detailing the key results and recommendations from OECD Trade Policy Paper 179 on the Participation of Developing Countries in Global Value Chains.
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24-page summary paper of the OECD trade policy paper #179 on participation of developing countries in global value chains available on the OECD iLibrary.
In January 2013, the OECD launched the project “Interrelations between Public Policies, Migration and Development: Case Studies and Policy Recommendations”, which aims to enhance partner countries’ capacity to incorporate migration into the design and implementation of their development strategies.
By participating more effectively in the global production of goods and services, Africa can transform its economy and achieve a development breakthrough, according to the latest African Economic Outlook, released at the African Development Bank Group’s Annual Meetings.
The OECD Development Centre is carrying out a project, co-funded by the EU Thematic Programme on Migration and Asylum, on the Interrelations between public policies, migration and development of partner countries.
The 2011 African Economic Outlook was launched at the African Development Bank’s Annual Meetings in Lisbon, Portugal on 6 June, 2011.