Many countries enacted microeconomic reforms, and this was correlated with more rapid growth
Share of African countries improving business policy metrics1 %
Acceleration in real GDP2, 2000–08 vs. 1990–2000 Unweighted country average, %
Labor market regulation
1 Each business policy metric is measured along a variety of dimensions that are aggregated into an index for each metric.
Improvements in each metric are measured as an increase in the index level. 2 Reformers are defined as countries that improved along credit, labor and business regulations, and trade policy. The non-
reformers have improved along only a subset of dimensions (14 countries) or none at all. 3 Percentage points.
SOURCE: Fraser Institute; World Bank World Development Indicators; McKinsey Global Institute