Economic development : the experience of Sub-Saharan Africa

Date

2013

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Abstract

This chapter briefly appraises Africa’s development experience, especially since the 1960s when several African States became independent. It reviews the development experience and development policy practice in Africa over time, recognizing that because of the diversity of African countries and their experiences, interpreting Africa’s development experience is no simple endeavor. Accordingly, careful, detailed, and contextually relevant country-level studies should regularly underpin the articulation of further development policies and programs. The appropriate mix of government intervention and market mechanisms will depend on initial conditions of each country and the pace of development over time.

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Keywords

SOUTH OF SAHARA, STRUCTURAL ADJUSTMENT, MILLENNIUM DEVELOPMENT GOALS, FOREIGN INVESTMENT, ECONOMIC GROWTH, MINERAL RESOURCES, INCLUSIVE GROWTH, AID ADMINISTRATION, FINANCIAL POLICY, DEVELOPMENT STRATEGY, NEOLIBERALISM, WORLD BANK, IMF, MACROECONOMICS, POLICY REFORM, POLITICAL STABILITY, MONETARY POLICY

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