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 Five - Operating 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
“Growth demands a stable, but flexible, political and social framework, capable of accommodating rapid structural change and resolving the conflicts that it generates, while encouraging the growth-promoting groups in society.”
Simon Kuznets, Nobel Prize laureate in economics, prize lecture, 1971“In countries operating a largely capitalist system, there does not seem to be a wide understanding among its actors and overseers of either its advantages or its hazards. In the past, ignorance of what it can contribute led some countries to throw out the system or clip its wings. Ignorance of the hazards made imprudence in markets and policy neglect all the more likely. Regaining a well-functioning capitalism will require re-education and deep reform.”
Edmund Phelps, Nobel Prize laureate in economics, Financial Times, April 15, 2009Introduction
In the first part of this book, I demonstrated the role of operating goals in the conceptual framework of economic policy. My goal in this chapter is to point out the operating goals that the officials in charge of economic policy in African countries should target. The operating goals are tactical targets that the officials in charge of economic policy can best influence in order to achieve the intermediate goals. They are closer to the instruments, which are the means of action directly in their hands. They are also linked to intermediate goals by a relationship of cause and effect, which is easier to understand than that which may exist between the instruments and intermediate goals.
- Type
- Chapter
- Information
- Africa and Economic PolicySpeculation and Risk Management on the Fringes of Empire, pp. 67 - 90Publisher: Anthem PressPrint publication year: 2014