Africa in the Global Trading System
Short Description
Africa in the Global Trading system. By Economic Commission for Africa. Publication: December 1998. 36 pages. Africa’s development experience over the last …
Website: unpan1.un.org | Filesize: 10kb
Content
Africa in the Global Trading system
By Economic Commission for Africa
Publication: December 1998
36 pages
Africa’s development experience over the last four decades following
independence has been disappointing. Statistics show that most countries in
Africa were better off three ago when compared to their current situation. In the
1960s, Africa’s growth potential was thought to be much higher than Asia’s.
According to the World Bank’s chief economist, there were 7 African countries
the “clearly have the potential to reach or surpass? a 7 percent growth rate
(Easterly and Levine, 1997, p. 1203). The seven countries in question had a
negative growth rate over the period 1965-1990 while, on average, real GDP did
not growth in Africa as a whole. In contrast, GDP per capita in Asian countries
grew by an average 5 percent while Latin America recorded an average 2
percent growth per annum during the same period.
It is difficult to isolate one single factor that explains Africa’s poor growth
performance during the last 3 decades. However, comparing the policies pursued
by Africa and other developing regions and the results achieved in terms of
economic development, economists now tend to agree that Africa’s poor trade…
Get the file Download here
Related Searches: global trading system, economic commission for africa, gdp per capita, development economists, real gdp
Comments
Leave a Reply
