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International Financial Institutions and Democracy in Africa: The Case for Political Conditionality and Economic Unconditionality

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  • Berhanu Nega
  • Geoffrey Schneider

Abstract

Paul Dale Bush analyzed the conditions under which "progressive" institutional change is likely to occur. After 60 years of failed development policies, Africa is in desperate need of such change. However, the IMF and World Bank continue to support corrupt dictatorships and retard the forces of progressive institutional change. This paper outlines the case for a new policy approach that emphasizes democracy, accountability and economic flexibility as crucial ingredients to create the conditions for progressive institutional change in Africa. The paper develops policy recommendations emphasizing political conditionality and economic unconditionality to lay the foundations for a developmental state in Africa.

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  • Berhanu Nega & Geoffrey Schneider, 2011. "International Financial Institutions and Democracy in Africa: The Case for Political Conditionality and Economic Unconditionality," Journal of Economic Issues, Taylor & Francis Journals, vol. 45(2), pages 421-430.
    • Handle: RePEc:mes:jeciss:v:45:y:2011:i:2:p:421-430
    DOI: 10.2753/JEI0021-3624450219
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    Cited by:

    1. Kirchherr, Julian & Matthews, Nathanial & Charles, Katrina J. & Walton, Matthew J., 2017. "“Learning it the Hard Way”: Social safeguards norms in Chinese-led dam projects in Myanmar, Laos and Cambodia," Energy Policy, Elsevier, vol. 102(C), pages 529-539.
    2. Githinji Njenga & Josphat Machagua & Samwel Gachanja, 2022. "Capital markets in sub-Saharan Africa," WIDER Working Paper Series wp-2022-112, World Institute for Development Economic Research (UNU-WIDER).

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