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Constraints on Sustained Recovery from Economic Disaster in Africa

In: Constraints on the Success of Structural Adjustment Programmes in Africa

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  • Charles Harvey

Abstract

This paper argues that governments of African countries recovering from economic disaster have increasingly accepted that they must persist with the macroeconomic polices demanded by the IMF and the World Bank. However progress with structural reform has been more difficult; it has been slow to start (for example, seven or eight years in the case of banking reform in Ghana and Uganda) and doubtful of success. Yet a recovery of private sector investment is essential for sustained recovery, once existing capacity becomes full utilised with the greater availability of foreign exchange; and private sector investment cannot be expected to recover while the civil service, the banks and parastatals remain unreformed.

Suggested Citation

  • Charles Harvey, 1996. "Constraints on Sustained Recovery from Economic Disaster in Africa," Palgrave Macmillan Books, in: Charles Harvey (ed.), Constraints on the Success of Structural Adjustment Programmes in Africa, chapter 7, pages 130-151, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-349-24373-0_7
    DOI: 10.1007/978-1-349-24373-0_7
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    Cited by:

    1. Pletcher, James, 2000. "The Politics of Liberalizing Zambia's Maize Markets," World Development, Elsevier, vol. 28(1), pages 129-142, January.
    2. Buffie, Edward F, 1999. "Public Sector Wage Cycles and the Co-movement of the Fiscal Deficit and Inflation in Less-Developed Countries," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 31(4), pages 785-810, November.
    3. Jonas A. Akudugu, 2018. "Institutionalising local economic development practice in Ghana," Local Economy, London South Bank University, vol. 33(4), pages 405-420, June.
    4. Buffie, Edward F., 2009. "Public sector layoffs, severance pay, and inflation in the small open economy," Journal of International Money and Finance, Elsevier, vol. 28(6), pages 987-1005, October.
    5. Belshaw, Deryke & Lawrence, Peter & Hubbard, Michael, 1999. "Agricultural Tradables and Economic Recovery in Uganda: The Limitations of Structural Adjustment in Practice," World Development, Elsevier, vol. 27(4), pages 673-690, April.

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