From Adjustment to Development in Africa: Conflict, Controversy, Convergence, Consensus?

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The economic crisis in sub-Saharan Africa in the 1980s and 1990s has generated fierce debate among analysts and policy-makers concerning its causes and appropriate ways out of it. The 'structural adjustment' programmes promoted by the International Monetary Fund and the World Bank have been at the centre of the debate. This volume brings together economists from these international financial institutions and some of the best known of their critics to show where the debate now-stands. A distinguished collection of...
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Overview

The economic crisis in sub-Saharan Africa in the 1980s and 1990s has generated fierce debate among analysts and policy-makers concerning its causes and appropriate ways out of it. The 'structural adjustment' programmes promoted by the International Monetary Fund and the World Bank have been at the centre of the debate. This volume brings together economists from these international financial institutions and some of the best known of their critics to show where the debate now-stands. A distinguished collection of African and international economists offers up-to-date analysis of the key policy issues in structural adjustment in Africa. Among the policies addressed are those in the spheres of agriculture, trade, exchange rates, privatisation, investment, social sectors, external relations and democratisation. An introductory interpretive essay searches for areas of consensus and identifies those of continuing controversy. In no other place is there such an up-to-date, informed and comprehensive analysis of the debate over African recovery.
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Product Details

  • ISBN-13: 9780333613610
  • Publisher: St. Martin's Press
  • Publication date: 1/1/1994
  • Pages: 350

Table of Contents

List of Tables
List of Figures
Foreword
Acknowledgements
Notes on the Contributors
List of Abbreviations
Introduction
1 From Adjustment to Development in Sub-Saharan Africa: Consensus and Continuing Conflict 3
2 Structural Adjustment: Its Origins, Rationale and Achievements 25
3 An African Perspective on Long-term Development in Sub-Saharan Africa 49
4 The Consistency between Long-term Development Objectives and Short-term Policy Instruments in Fund Activities 69
5 Are Short-term Policies Consistent with Long-term Development Needs in Africa? 98
6 Beyond Structural Adjustment: Policies for Sustainable Growth and Development in Africa 129
7 Macroeconomic Adjustment, Uncertainty and Domestic Private Investment in Selected African Countries 137
8 Adjustment, Political Conditionality and Democratisation in Africa 155
9 Adjustment Programmes and Politico-Economic Interactions in Developing Countries: Lessons from an Empirical Analysis of Africa in the 1980s 174
10 The Political Economy of Privatisation in Africa 192
11 Neglected Issues in the Decline of Africa's Agriculture: Land Tenure, Land Distribution and R&D Constraints 217
12 Policy and Capital Market Constraints to the Africa Green Revolution: A Study of Maize and Sorghum Yields in Kenya, Malawi and Zimbabwe, 1960-91 248
13 The Impact of Macroeconomic Adjustment on Incomes, Health and Nutrition: Sub-Saharan Africa in the 1980s 273
14 The Social Impact of Adjustment in Africa 298
15 External Resource Flows, Debt Relief and Economic Development in Sub-Saharan Africa 317
16 The Output and Inflationary Impact of Devaluation in Developing Countries: Theory and Empirical Evidence from Five African Low-income Countries 334
17 New Trade Issues: Traditional Versus Non-traditional Exports 353
18 Long-term Development in Sub-Saharan Africa: Would Regional Integration Help? 367
References 378
Index 405
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