Our Continent, Our Future: African Perspectives on Structural Adjustment
Annotation Extreme poverty and underdevelopment continue to plague what is becoming the world's "forgotten continent." For decades now, the countries of sub-Saharan Africa have implemented the structural adjustment programs of the Bretton Woods Institutions. The results, however, have been less than sterling. It is now generally agreed that sub-Saharan Africa desperately needs help in forming a new approach to solving its developmental problems. This book presents the emerging African perspective on this complex issue. The authors use as background their own extensive experience and a collection of 30 individual studies to summarize this African perspective and articulate a path for the future. They underscore the need to be sensitive to each country's unique history and current condition. They argue for a broader policy agenda and for a much more active role for the state within what is largely a market economy. Finally, they stress that Africa must, and can, compete in an increasingly globalized world and, perhaps most importantly, that Africans must assume the leading role in defining the continent's development agenda. This is the first book to present the African perspective on the Bretton Woods approach to structural adjustment, and it does so with the input and support of top economists and scholars from every corner of Africa.
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activities Adjustment in Africa adjustment programs African countries African economies African governments analysis argued Asian Bank’s Berg report BWIs capacity competitive Côte d’Ivoire country’s debate debt decline deindustrialization deterioration developing countries developmental domestic savings donors economic growth economic performance economic policy effects efficiency evidence experience export external factors favour fiscal Fund fundamentals Ghana global gross domestic product groups growth rates human capital implementation import substitution improvements increased industrial policy inflows infrastructure initial conditions inputs interest rates investment labour levels long-term macroeconomic manufacturing market failures ment neoclassical neoliberal Nigeria nomic output policy failure policy-making political postcolonial poverty private sector problems production reform region rent-seeking response role ROREs SAPs social stabilization state’s strategy structural adjustment sub-Saharan Africa suggests sustainable Tanzania tariffs technical technological terms of trade tion Uganda variables World Bank 1994 Zambia Zimbabwe