Africa: Maladjusted African economies and globalisation

"The policies designed to 'integrate' Africa into the global economy have thus far failed because they have completely sidestepped the developmental needs of the continent and the strategic questions on the form of integration appropriate to addressing these needs. They consequently have, thus far, not led to higher rates of growth and, their labelling notwithstanding, have not induced structural transformation. Indeed, the combined effect of internal political disarray, the weakening of domestic capacities, deflationary policies and slow world economic growth have placed African economies on a 'low equilibrium growth path' from which the anaemic GDP growth rates of 3-4 per cent appear as 'successful' performance." This is the focus of a paper presented at the conference 'The Agrarian Constraint and Poverty Reduction: Macroeconomic Lessons for Africa', in Addis Ababa on 17-18 December, 2004 and available from the website of the Southern African Regional Poverty Network.