Download PDF by Kapil Kapoor, World Bank: Africa's experience with structural adjustment: proceedings

By Kapil Kapoor, World Bank

ISBN-10: 0821332988

ISBN-13: 9780821332986

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Read or Download Africa's experience with structural adjustment: proceedings of the Harare seminar, May 23-24, 1994, Parts 63-288 PDF

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Extra info for Africa's experience with structural adjustment: proceedings of the Harare seminar, May 23-24, 1994, Parts 63-288

Sample text

New York: Oxford University Press. Page 2 economies have limited domestic markets and because exports are beneficial for growth, countries should adopt an "exporters first" rule and provide them with automatic access to foreign exchange and facilitate access to intermediate inputs and capital goods. However, countries should abandon the practice of trying to pick "winners" since they have consistently made poor choices in the past. With regards to public enterprise reform, efforts to privatize state corporations and improve their performance need to be intensified since such efforts have yielded meager results so far.

Transparency : 8Countries with Better Policy Stances had Faster GDP per Capita Growth. Policy Stance and Median GDP per Capita Growth in Adjusting African Countries Note: See source tables for a listing of countries in each group. Source: World Bank Data. Page 21 Transparency : 9 Exchange Rate Policy Stance for Countries with Fixed Exchange Rates, 199091. Good or adequate None **** Fair Niger *** Poor Benin ** Burkina Faso ** Central African Rep. ** Gabon ** Mali ** Togo ** Very poor Cameroon * Congo * Côte d'Ivoire * Senegal * Note: A ''good or adequate" rating indicates a depreciation in the real effective exchange rate of more than 40 percent between 1980 and 199091 (non-African countries averaged 60 percent).

Representatives of the private sector pointed out that the accelerated pace of trade liberalization had rapidly exposed African economies to international competition without giving domestic industries adequate time to adjust, resulting in de-industrialization and poor employment creation. A, and Japan still retained their protectionist stance. In addition, South Africa, which is a major trading parmer of Eastern and Southern African economies, was also protecting its domestic manufacturers behind extremely high tariff barriers and was promoting its exports through direct export subsidies.

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Africa's experience with structural adjustment: proceedings of the Harare seminar, May 23-24, 1994, Parts 63-288 by Kapil Kapoor, World Bank


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