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Adjustment In Africa

Adjustment In Africa - 94 edition

Adjustment In Africa - 94 edition

ISBN13: 9780195209945

ISBN10: 019520994X

Adjustment In Africa by World Bank - ISBN 9780195209945
Edition: 94
Copyright: 1994
Publisher: Oxford University Press
Published: 1994
International: No
Adjustment In Africa by World Bank - ISBN 9780195209945

ISBN13: 9780195209945

ISBN10: 019520994X

Edition: 94

Summary

This, the second title in the World Bank Policy Research Reports (the first was the headline-making The East Asian Miracle), discusses the economic situation in Africa as it has evolved over the past several decades. To reverse the economic decline that began in the 1970s, many sub-Saharan African countries have undertaken efforts to restructure their economies. This has included liberalizing trade, deregulating markets and prices, privatizing public enterprises, and strengthening management of the financial and public sectors. Implementation has been uneven in different countries, and even those countries that have attempted major reforms have not achieved policies that are considered sound by international standards. A key finding is that improving policies paid off in higher GDR and sectoral growth rates, which are vital to reducing poverty; but in countries where policies deteriorated economic performance worsened. The report also shows that, despite the importance of reforming economic policies, countries need to invest more in human capital and infrastructure, expand their institutional capacity, and develop better governance.