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
- Chapter One The Sectoral Approach to Economic Policy and Its Limits
- Chapter Two Conceptual Framework of a Systemic Economic Policy for the Revival of Africa
- Part Two Goals and Instruments for a Systemic Economic Policy for Africa's Revival
- 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 Two - Conceptual Framework of a Systemic Economic Policy for the Revival of Africa
from Part One - The Conceptual Fundamentals of 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
- Chapter One The Sectoral Approach to Economic Policy and Its Limits
- Chapter Two Conceptual Framework of a Systemic Economic Policy for the Revival of Africa
- Part Two Goals and Instruments for a Systemic Economic Policy for Africa's Revival
- 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
“Cutting through complexity to find a solution runs through four predictable stages: determine a goal, find the highest-leverage approach, discover the ideal technology for that approach, and in the meantime, make the smartest application of the technology that you already have.”
Bill Gates, Harvard commencement speech, June 6, 2007“A good theory is only the summary, the substance of reality, which in turn exploits the theory. We cannot theorize a reality that was not previously observed. We cannot also practice what we do not conceive.”
Joseph Tchundjang Pouemi, Cameroonian economistIntroduction
I have just examined the shortcomings of the sectoral approach to economic policy. My task in this chapter is to go beyond criticism and contribute to the improvement of economic policy in Africa. I shall do this by defining a conceptual framework for a good economic policy; that is to say, a conceptual framework that is not merely a juxtaposition of sectoral policies. Although the task of defining a conceptual framework for economic policy has not so far been undertaken by current literature, which justifies the fact that the analyses are still compartmentalized (i.e., focused on specific themes and sectors), defining a conceptual framework that could inspire a revival of the economic policy of African countries is nevertheless facilitated by the fact that most of the elements of such a framework exist in the literature, though in an uncoordinated and dispersed manner.
- Type
- Chapter
- Information
- Africa and Economic PolicySpeculation and Risk Management on the Fringes of Empire, pp. 21 - 30Publisher: Anthem PressPrint publication year: 2014