摘要
Sustained economic growth is a key source of poverty alleviation and growth that is driven more by productivity than the quantity of factors of production is useful for long-term inclusive growth and poverty reduction,which is needed in Sub-Saharan Africa.The paper sought to investigate the relative roles of capital and labour as factors of production and their productivity in the growth process of Sub-Saharan Africa using annual data from 2000 to 2018.A production function was estimated,following the construction of data for capital stock using the perpetual inventory method.The production function was estimated by applying the instrumental variables(IV)to the two-way fixed effects model,using clustered standard errors.The results show that the share of capital and labour in production were 0.14 and 0.86 respectively.Capital,labour and their productivity contributed 24.7%,51.1%and 24.2%respectively to real GDP growth during the period 2001 to 2018.Further efforts in building the productivity of capital and labour are therefore required in Sub-Saharan Africa.Building good governance,the legal framework,political stability,expanded access to quality education and affordable quality healthcare,greater openness towards technological progress are therefore imperative.
