The World Bank and the IMF dominate policy-making in Africa today. This book considers the consistency between their adjustment policies and long-term development needs, with detailed analyses of country experience. An alternative development strategy is proposed. Important elements include rural development, industrialization based on regional import substitution and export promotion, and development of human capabilities. Current adjustment policies are in large part moving African economies away from long-term goals, ...
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The World Bank and the IMF dominate policy-making in Africa today. This book considers the consistency between their adjustment policies and long-term development needs, with detailed analyses of country experience. An alternative development strategy is proposed. Important elements include rural development, industrialization based on regional import substitution and export promotion, and development of human capabilities. Current adjustment policies are in large part moving African economies away from long-term goals, especially through cuts in expenditure on education and infrastructure, deindustrialization and the strong emphasis on primary commodity exports.
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