| Despite their common sources of development funds, African countries have had varying rates of growth. This study assesses the influence of selected social and economic variables on economic growth in Africa using data from 45 African countries for the year 2005. Regression results show that literacy rate, property rights, net budget surplus and inflation rate significantly influenced on growth in Africa. Judicial independence, number of days to start business and reliability of financial institutions did not show significant influence on growth in Africa. To promote growth, African governments need to redesign their education systems in order to be able to cope with the rapid socio-economic as well as technological changes and pursue policies that promote property rights, control inflation rates and increase net budget surpluses.;Key words: Africa, Economic growth, regression model, regions. |
