Africa on fault line of capitalism
Book from Mapungubwe Institute considers why continent benefits least and suffers most
Among the questions raised in relation to Africa is whether the continent can be said to be on the economic mend. This question is necessitated by the observation that Asian countries had their turn at economic growth, and African countries should logically have to be in line to benefit from an economic boom. Why do African countries continue to "miss the bus"? If African economies are sufficiently integrated into the global economy, it is important to consider why the continent seems not to benefit from this integration. There are two possible explanations: first, African countries are falling short of devising appropriate policy frameworks through which to pursue economic growth and development. Africa’s ability to fully enjoy the benefits of being integrated into the global economy is thus inhibited by internal challenges of governance including poor levels of state capacity. The second explanation is that the global financial regime including the global economic recession, has a...
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