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The revival of economic growth in Sub-Saharan Africa is all the more welcome for having followed one of the worst economic disasters—a quarter century of economic malaise for most of the region—since the industrial revolution. Six of the world's fastest-growing economies in the first decade of this century were African. Yet only in Ethiopia and Rwanda was growth not based on resources and the rising price of oil. Deindustrialization has yet to be reversed, and progress toward creating a modern economy remains limited. This book explores the vital role that active government policies can play in transforming African economies. Such policies pertain not just to industry. They traverse all economic sectors, including finance, information technology, and agriculture. These packages of learning, industrial, and technology (LIT) policies aim to bring vigorous and lasting growth to the region. This collection features case studies of LIT policies in action in many parts of the world, examining their risks and rewards and what they mean for Sub-Saharan Africa.
Provides basic yet comprehensive facts about the social, economic, political and millitary institutions of the country.
Rising densities of human settlements, migration and transport to reduce distances to market, and specialization and trade facilitated by fewer international divisions are central to economic development. The transformations along these three dimensions density, distance, and division are most noticeable in North America, Western Europe, and Japan, but countries in Asia and Eastern Europe are changing in ways similar in scope and speed. 'World Development Report 2009: Reshaping Economic Geography' concludes that these spatial transformations are essential, and should be encouraged. The conclusion is not without controversy. Slum-dwellers now number a billion, but the rush to cities continues. Globalization is believed to benefit many, but not the billion people living in lagging areas of developing nations. High poverty and mortality persist among the world's 'bottom billion', while others grow wealthier and live longer lives. Concern for these three billion often comes with the prescription that growth must be made spatially balanced. The WDR has a different message: economic growth is seldom balanced, and efforts to spread it out prematurely will jeopardize progress. The Report: documents how production becomes more concentrated spatially as economies grow. proposes economic integration as the principle for promoting successful spatial transformations. revisits the debates on urbanization, territorial development, and regional integration and shows how today's developers can reshape economic geography.
In recent years, the Republic of Guinea has shed its reputation as one of the most tightly controlled state economies in Africa, leaving behind a cloistered era marked by an extraordinarily closed economic and political system. In breaking with its dismal past, Guinea has launched an ambitious program of reform which has affected the entire range of the country's institutions, regulations, and markets. Culling data from the World Bank, the International Monetary Fund, the United Nations, and numerous interviews and previously unpublished government data, Jehan Arulpragasam and David E. Sahn here present an overview of the Guinean economy, and its evolution—from independence, through crisis, to reform—and model implications of these changes for economic performance and living standards of the poor. Highlighting the chasm between theory and practice, between well-intentioned program and problematic implementation, the authors reveal how Guinea both parallels and contradicts past experiences of economic reform in Africa. Most notably, reform in Guinea has been hindered by the weighty administrative, managerial, and logistical demands of undertaking a vast battery of economic adjustments, all in one fell swoop. The most detailed and informative study of the Guinean economy to date, Economic Transition in Guinea illustrates not only the successes of the nation's reform agenda, but also the fundamental constraints to development that often lie beyond the reach of such reform.
The world economy is experiencing a very strong but uneven recovery, with many emerging market and developing economies facing obstacles to vaccination. The global outlook remains uncertain, with major risks around the path of the pandemic and the possibility of financial stress amid large debt loads. Policy makers face a difficult balancing act as they seek to nurture the recovery while safeguarding price stability and fiscal sustainability. A comprehensive set of policies will be required to promote a strong recovery that mitigates inequality and enhances environmental sustainability, ultimately putting economies on a path of green, resilient, and inclusive development. Prominent among the necessary policies are efforts to lower trade costs so that trade can once again become a robust engine of growth. This year marks the 30th anniversary of the Global Economic Prospects. The Global Economic Prospects is a World Bank Group Flagship Report that examines global economic developments and prospects, with a special focus on emerging market and developing economies, on a semiannual basis (in January and June). Each edition includes analytical pieces on topical policy challenges faced by these economies.
A large percentage of workers and firms operate in the informal economy, outside the line of sight of governments in emerging market and developing economies. This may hold back the recovery in these economies from the deep recessions caused by the COVID-19 pandemic--unless governments adopt a broad set of policies to address the challenges of widespread informality. This study is the first comprehensive analysis of the extent of informality and its implications for a durable economic recovery and for long-term development. It finds that pervasive informality is associated with significantly weaker economic outcomes--including lower government resources to combat recessions, lower per capita incomes, greater poverty, less financial development, and weaker investment and productivity.
The global economy is in a broad-based cyclical recovery. Investment, manufacturing and trade are on the rebound. Financing conditions are benign, monetary policies are generally accommodative, and the worst impacts of the recent commodity price collapse have begun to dissipate. However, the global economic outlook remains clouded by a number of risks. These include the possibility of financial market disruptions, rising protectionist sentiment, and heightened geopolitical tensions. Of particular concern is evidence of subdued productivity and slowing potential growth. In addition to discussing global and regional economic developments and prospects, this edition of Global Economic Prospects includes a chapter on the causes of the broad-based slowing of potential growth and suggests remedies. The report also contains Special Focus sections on the impact of the 2014-2016 oil price collapse and the relationship between education demographics and global inequality. Global Economic Prospects is a World Bank Group Flagship Report that examines global economic developments and prospects, with a special focus on emerging market and developing countries, on a semiannual basis (in January and June). The January edition includes in-depth analyses of topical policy challenges faced by these economies, while the June edition contains shorter analytical pieces.
In June 1998, Guinea-Bissau was thrown into conflict by a military revolt. This led to 11 months of fighting, extensive loss of life, and the displacement of up to a third of the country's population. This paper discusses the political economy of the conflict, the difficulties in negotiating its end, and the tasks that now face donors and national actors in creating a state capable of directing the development process. Formidable constraints exist including the government's dire fiscal situation, the demands of the army, and an unsustainable debt position. The paper argues that the current institutional distinction between emergency relief and development aid hinders an effective focus on conflict prevention, and proposes a 'Win-Hold-Win' strategy for donors in their efforts to achieve reconstruction, political stability and economic reform. The paper concludes by stressing the wider implications of Guinea-Bissau's experience and the challenges it still faces.