Success Stories of Adjustment: Results and Lessons from Africa and Latin America

Growth and economic development are major concerns around the world. Specifically, a number of developing countries still face major blockages to improving the well-being of the majority of their population. Therefore a fundamental issue arises: how can such countries go through a successful process of transition on the road to growth and economic development? A number of transition strategies have been tried by different countries in various parts of the world. Some worked, others did not. Existing studies tend to focus on failures. However, there are success stories from which a lot can be learned. This paper focuses on several success stories of economic transition in Latin America and sub-Saharan Africa, two continents faced with major transition problems. Other important aspects of transition, in particular in the social, political and ecological arenas, are not addressed.' The paper attempts to elaborate a conceptual framework to analyse major kinds of transition; to identify success stories in transition in Latin America and sub-Saharan Africa; and to draw lessons for countries in transition.