From Bad Policy to Chaos in Somalia: How an Economy Fell Apart / Edition 1

From Bad Policy to Chaos in Somalia: How an Economy Fell Apart / Edition 1

by Jamil Mubarak
     
 

ISBN-10: 0275954862

ISBN-13: 9780275954864

Pub. Date: 06/30/1996

Publisher: ABC-CLIO, Incorporated

This examination of the economic policies of Somalia since 1970 is empirical in nature, employing political and economic analysis, economic theory, and econometric techniques, and argues that the governmental economic policy, policy responses to crises, and exogenous shocks have been bad for the long-term economic growth of the country. Despite significant foreign

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Overview

This examination of the economic policies of Somalia since 1970 is empirical in nature, employing political and economic analysis, economic theory, and econometric techniques, and argues that the governmental economic policy, policy responses to crises, and exogenous shocks have been bad for the long-term economic growth of the country. Despite significant foreign financed public investment, economic growth has been weak and real per capita income has declined. The intensifying economic crises contributed to the rapid deterioration of the political situation that led to the collapse of the Somali state in 1991. Since 1991, chaos and more destruction has followed as warlords scrambled for power, resulting in the resource base of the economy being eroded further and the country being reduced to warring clans.

Product Details

ISBN-13:
9780275954864
Publisher:
ABC-CLIO, Incorporated
Publication date:
06/30/1996
Edition description:
New Edition
Pages:
200
Product dimensions:
6.00(w) x 9.00(h) x 0.63(d)

Table of Contents

Tables and Figures

Preface

Abbreviations

Introduction

Economics and Politics in Somalia: A Background

Improper Policy Responses to Exogenous Shocks

The Socialist Development Strategy to the 1970s: The Principal Origin of the Crises

Macroeconomic Consequences of Unsustainable Public Sector Deficits

Ambitious Public Investment and Illusive Economic Growth Objective

Private Savings and Investment in an Inhospitable Environment

The Depressing Effects of Economic Policies on Trade

Resilience Amid Chaos: The Somali Economy After the State Collapsed

How the Economy Fell Apart and What We Have Learned

Selected Bibliography

Index

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