Our Continent, Our Future: African Perspectives on Structural AdjustmentAnnotation Extreme poverty and underdevelopment continue to plague what is becoming the world's "forgotten continent." For decades now, the countries of sub-Saharan Africa have implemented the structural adjustment programs of the Bretton Woods Institutions. The results, however, have been less than sterling. It is now generally agreed that sub-Saharan Africa desperately needs help in forming a new approach to solving its developmental problems. This book presents the emerging African perspective on this complex issue. The authors use as background their own extensive experience and a collection of 30 individual studies to summarize this African perspective and articulate a path for the future. They underscore the need to be sensitive to each country's unique history and current condition. They argue for a broader policy agenda and for a much more active role for the state within what is largely a market economy. Finally, they stress that Africa must, and can, compete in an increasingly globalized world and, perhaps most importantly, that Africans must assume the leading role in defining the continent's development agenda. This is the first book to present the African perspective on the Bretton Woods approach to structural adjustment, and it does so with the input and support of top economists and scholars from every corner of Africa. |
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activities adjustment African countries African economies agriculture argued Asian capacity capital central civil competitive continent crisis debate debt decline dependence developing countries domestic economic effects efficiency especially evidence existing expected experience export external factors failure firms fiscal foreign Fund fundamentals given groups growth higher implementation import substitution important improvements increased indicators industrial initial institutions interest investment issues labour largely lead learning levels liberalization long-term macroeconomic major markets measures ment nature noted performance period perspective policy-making political poor position poverty problems production programs protection question rates recent reduce reform region Research response result role SAPs savings sector social stabilization strategy structural structural adjustment studies success suggests sustainable technical technological tion trade World Bank World Bank 1994