Economic recovery in Africa : the paradox of financial flows / Vijay S. Makhan.

Format:

Book

Author/Creator:

Makhan, Vijay S., 1948-

Series:

International political economy series (Palgrave (Firm))

International political economy series

Language:

English

Subjects (All):

Flow of funds.

Africa--Economic policy.

Africa.

Economic policy.

Economic assistance--Africa.

Economic assistance.

Flow of funds--Africa.

Physical Description:

xviii, 261 pages : illustrations ; 22 cm.

Place of Publication:

Houndmills [England] ; New York : Palgrave Macmillan, 2002.

Summary:

Development finance is one of the foremost challenges facing African Countries and the international community in the new century. African countries in particular have experience modest economic recovery during the 19990s. Vijay S. Makhan explores these improvements, while describing the "vicious circle" in which the economic structure cannot generate enough savings and export earnings needed to finance the development and mount a sustained assault on poverty.

Contents:

1 A survey of Africa's Economic Performance in the Post-Independence Period 8

1965-73 10

1973-80 13

1980-94 17

The African economy during the mid/late 1990s 19

Increasingly sound macroeconomic fundamentals 23

Commodity dependence 26

Low levels of domestic investment and savings 28

Low or declining external financial flows and unsustainable debt 29

The recovery of 1994-7 in perspective 32

2 The Paradox of Financial Flows 35

External financial flows 37

External debt 47

Capital flight 54

Savings 56

3 New Priorities for Foreign Aid 61

International consensus on priorities for foreign aid 63

Assessment 74

4 New Perspectives on Aid Delivery and Development Management 77

Aid effectiveness 80

Improving development management 83

Assessment 86

The development finance gap 90

No simple panaceas 95.

Notes:

Includes bibliographical references (pages 225-231) and index.

ISBN:

0333801555

OCLC:

48931614