Writing in the 1990’s, William Easterly and Ross Levine famously labeled Africa a “growth tragedy”.1 Less than twenty years later, Alwyn Young noted Africa’s “growth miracle”2, while Steven Radelet less effusively pointed to an Africa that was “emerging” and noted its rising rate of economic growth, improving levels of education and health care, and increasing levels of investment in basic infrastructure: roads, ports, and transport3. In this paper, we address Africa’s economic revival. In doing so, we also stress the political changes that have taken place on the continent. Once notorious for its tyrants – Jean-‐Bedel Bokassa, Idi Amin, and Mobutu Sese Seko, to name but three – in the 1990s, Africa joined the last wave of democratization; self-‐appointed heads of state were replaced by rulers chosen in competitive elections. In this paper, we assert that the two sets of changes – the one economic and the other political – go together, and that, indeed, changes in Africa’s political institutions lent significant impetus to its economic revival.