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Institutions and Capacity Building: The African Economic Development Potential Revisited

Author

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  • Mallick, Indrajit

Abstract

Risks faced in African agriculture and industry reduces the dynamic rate of return in these industries. Supply and demand constraints like scarcity of human capital and low effective demand further reduce the scope of industrialization. Institutions have to be developed to share the risks in consumption and production and thus achieve equity and efficiency. Capacity building through investment in the education, health and the public sector can bring about an efficient supply response. Monetary and fiscal intervention can ensure that such a supply response is met effectively and the benefits are passed to consumers, labor and entrepreneurs through a regulated market.

Suggested Citation

  • Mallick, Indrajit, 2005. "Institutions and Capacity Building: The African Economic Development Potential Revisited," MPRA Paper 27791, University Library of Munich, Germany, revised 10 Aug 2005.
    • Handle: RePEc:pra:mprapa:27791
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    File URL: https://mpra.ub.uni-muenchen.de/27791/1/MPRA_paper_27791.pdf
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    More about this item

    Keywords

    Keywords: Institutions; Capacity Building; Risk Sharing; Dynamic Efficiency;
    All these keywords.

    JEL classification:

    • O23 - Economic Development, Innovation, Technological Change, and Growth - - Development Planning and Policy - - - Fiscal and Monetary Policy in Development
    • D20 - Microeconomics - - Production and Organizations - - - General
    • D61 - Microeconomics - - Welfare Economics - - - Allocative Efficiency; Cost-Benefit Analysis
    • O20 - Economic Development, Innovation, Technological Change, and Growth - - Development Planning and Policy - - - General
    • G00 - Financial Economics - - General - - - General

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