n AfricaGrowth Agenda - When Iceland was Ghana

Volume 2008, Issue 4
  • ISSN : 1811-5187


Believe it or not: in 1901, Iceland's per capita national output was about the same as that of today's Ghana. Today, Iceland occupies first place in the United Nations' ranking of material success according to the Human Development Index that reflects longevity, adult literacy, and schooling as well as the purchasing power of peoples' incomes. Can Iceland's rags-to-riches story be replicated in Africa and elsewhere in the developing world? If so, what would it take?

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