Our continent, our future: African perspectives on structural adjustment

For decades now, the countries of sub-Saharan Africa have implemented the structural adjustment programs of the Bretton Woods Institutions. The results, however, have been less than sterling. Extreme poverty and underdevelopment continue to plague sub-Saharan Africa, and it is now generally agreed that a new approach is urgently required. Our Continent, Our Future presents the emerging African perspective on this complex issue. The authors use as background their own extensive experience and a collection of 30 individual studies, 25 of which were from African economists, to summarize this African perspective and articulate a path for the future. They underscore the need to be sensitive to each country's unique history and current condition. They argue for a broader policy agenda and for a much more active role for the state within what is largely a market economy. Finally, they stress that Africa must, and can, compete in an increasingly globalized world and, perhaps most importantly, that Africans must assume the leading role in defining the continent's development agenda. Our Continent, Our Future is the very first publication to present the African perspective on the Bretton Woods approach to structural adjustment, and it does so with the input and support of top economists and scholars from every corner of Africa. This important book should be read by students, professors, academics, and researchers in development, economics, and African studies; professionals in donor organizations around the world; policymakers in both the governmental and nongovernmental sectors; and all citizens concerned with the future of Africa and issues of sustainable and equitable development

Notre continent, notre avenir : perspectives africaines sur l'ajustement structurel

Publié en Afrique avec le Conseil pour le développement de la recherche en sciences sociales en AfriqueVersion anglaise disponible dans la Bibliothèque numérique du CRDI : Our continent, our future : African perspectives on structural adjustmen

Potential Impacts of the New Global Financial Architecture on Poor Countries

This monograph evaluates the potential impacts of the proposals for a new global financial architecture (NGFA) on poor countries and poor people. The mainstream proposals—put forth largely by the U.S., the G-7 countries and the Bretton Woods Institutions—are rooted in the neo-Walrasian, market fundamentalist view of the world, with the obvious consequence of increasing the vulnerabilities of small and poorer developing countries to frequent financial crises. It is shown that the claim of this model that global growth and equity would be ‘best’ served by deeper financial integration through open capital accounts is founded on shaky theoretical and empirical grounds