THE IMPACT OF HIV/AIDS ON ECONOMIC GROWTH IN SUB-SAHARAN AFRICA
This study investigates the hypothesis that HIV/AIDS epidemic slows down the pace of economic growth. We examine 41 Sub-Saharan African countries by using the empirical growth equation in an augmented Solow model in which health capital serves as a determinant of human capital. Econometric analysis is based on panel data and covers the period 1997-2005. We control for a variety of factors possibly correlated with HIV prevalence that might also influence economic growth. As a key result we prove that the epidemic has a significant negative effect on the growth rate of "per capita" GDP in Sub-Saharan Africa. Copyright (c) 2009 The Authors. Journal compilation (c) 2009 Economic Society of South Africa.
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