Book contents
- Frontmatter
- Dedication
- Contents
- Acknowledgements
- Introduction: Africa's Economic Growth Depends First of All on Good Economic Policy, Not on Foreign Aid
- Part One The Conceptual Fundamentals of a Systemic Economic Policy for Africa's Revival
- Part Two Goals and Instruments for a Systemic Economic Policy for Africa's Revival
- Chapter Three Final Goals for a Systemic Economic Policy
- Chapter Four Intermediate Goals for a Systemic Economic Policy
- Chapter Five Operating Goals for a Systemic Economic Policy
- Chapter Six Instruments for a Systemic Economic Policy
- Chapter Seven Means of Implementing a Systemic Economic Policy
- Chapter Eight Economic Policy in Particular Contexts: Economic Crises and Natural Resources–Based Economies
- Part Three Globalization: Challenges and Opportunities for African Economic Policy
- Part Four Foreign Aid and African Economic Policy
- Part Five Some Successful Experiences of Economic Policy in Africa and Beyond
- Conclusion
- Notes
- Bibliography
- Index
Chapter Three - Final Goals for a Systemic Economic Policy
from Part Two - Goals and Instruments for a Systemic Economic Policy for Africa's Revival
Published online by Cambridge University Press: 05 October 2014
- Frontmatter
- Dedication
- Contents
- Acknowledgements
- Introduction: Africa's Economic Growth Depends First of All on Good Economic Policy, Not on Foreign Aid
- Part One The Conceptual Fundamentals of a Systemic Economic Policy for Africa's Revival
- Part Two Goals and Instruments for a Systemic Economic Policy for Africa's Revival
- Chapter Three Final Goals for a Systemic Economic Policy
- Chapter Four Intermediate Goals for a Systemic Economic Policy
- Chapter Five Operating Goals for a Systemic Economic Policy
- Chapter Six Instruments for a Systemic Economic Policy
- Chapter Seven Means of Implementing a Systemic Economic Policy
- Chapter Eight Economic Policy in Particular Contexts: Economic Crises and Natural Resources–Based Economies
- Part Three Globalization: Challenges and Opportunities for African Economic Policy
- Part Four Foreign Aid and African Economic Policy
- Part Five Some Successful Experiences of Economic Policy in Africa and Beyond
- Conclusion
- Notes
- Bibliography
- Index
Summary
“No opportunity is more important than the opportunity to work.”
Joseph E. Stiglitz, Nobel laureate in economicsIntroduction: The Web of Goals in African Countries Still Prevent Concentration on Fundamental Final Goals
In March 2002, I was in an African country on mission under my employer, the African Development Bank (ADB). This country is one of the poorest countries in the world. There, the income per capita is about 250 US dollars per annum. Although according to official statistics the country experienced an annual average growth rate of 5 per cent from 1999–2002, I came to realize that the economic situation of the country continued to be marked by a high level of poverty. According to the same statistics, the primary sector, which is essentially agriculture, was the first economic sector of the country, both in terms of its contribution to the gross domestic product, which was about forty per cent, and its contribution to employment, given that it provided about eighty per cent of jobs in the economy. The country earned about ninety per cent of its revenue in foreign currency from the production and export of a limited number of primary agricultural products. The financial sector, which had experienced serious difficulties in the years preceding my visit, was gradually recovering after the government implemented a rehabilitation program.
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- Africa and Economic PolicySpeculation and Risk Management on the Fringes of Empire, pp. 33 - 54Publisher: Anthem PressPrint publication year: 2014