Does macroeconomics convergence lead to growth? : the case of Africa

Abstract

This paper investigates the macroeconomic convergence in various African RECs and its relationship to economic growth. It is found that although, there is seemingly evidence of the tendency of macroeconomic convergence in the various African RECs, and this does not lead to expected higher growth. The various African RECs displayed a stable macroeconomic environment in the recent years but there is very little growth associated with it. The paper attributed this little growth to many internal and external challenges being faced by the African continent.