Summary of Africa Is on Time

Federal Reserve Bank of New York,

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Africa Is on Time summary
Poverty in Africa fell by half between 1990 and 2015, so that Millennium Development Goal is in place.


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Economists Maxim Pinkovskiy and Xavier Sala-i-Martin make the contrarian but compelling argument that Africa’s economies have been improving since the 1990s and that the continent’s extreme poverty is lessening. Intriguingly, they analyze African nations in terms of their European colonizers, their legacies of slavery, their natural resources and their geographic position, but they cite the standard poverty rates, too. getAbstract recommends this eye-opening report to investors and policy makers seeking insight into African economies.

In this summary, you will learn

  • How Africa has reduced poverty since the 1990s
  • Which factors have contributed to its economic development


Since the 1990s, inhabitants of African nations have made significant strides toward moving out of extreme poverty. The United Nations’ Millennium Development Goals (MDGs) call for cutting poverty in half from 1990 to 2015. Many parts of the world – notably Asia – have moved well ahead in achieving ...
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About the Authors

Maxim Pinkovskiy is an economist at the Federal Reserve Bank of New York. Xavier Sala-i-Martin is a professor of economics at Columbia University.

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