Rent-Seeking, Institutions and Reforms in Africa by Pius Fischer download in iPad, ePub, pdf
Economic growth in African countries in the s and s fell below the rates of previous decades. In Africa, instead of making economies grow fast, structural adjustment actually had a contractive impact in most countries. You talk a fair bit about rent-seeking in those sorts of sectors.
Moreover, very few of the loans have been paid off. Wealth is highly concentrated in China and the choices for Chinese families to invest are limited domestically. We have been lucky to get a lot of philanthropy to support our higher education.
Even if the Chinese banking system is not robust, there is no loss of public confidence so that the probability of bank runs in China is very low. Enormous capital flows to the United States had the corollary of dramatically depleting the availability of capital to poor and middling countries.
An almost classic criticism of structural adjustment is pointing out the dramatic cuts in the education and health sectors. They are just being slowed down.
Our college graduation rates, our performance in international standardised tests are really not very good. There may be factors within these sectors that are susceptible to corruption or over-staffing that causes the initial investment to not be used as efficiently as possible.
Belachew Mekuria told The Ethiopian Herald. And having its capital account remain relatively closed helps restrict foreign borrowing. Australia is going to have a brand name for education and healthcare, and you have to maintain that. In the heart of the Horn of Africa, the Danakil Depression is one of the most remote, inhospitable and least-studied locations in the world. Reversing this trend will require concrete actions to improve infrastructure planning, open up new sources of finance, reduce administrative burdens, simplify taxes, and streamline licencing.
It has turned from a political boon to a bane. We compete to help poor students, we compete to have diversity, but these are not things that are part of a normal market economy. The Bank of International Settlements last week called for global central banks to start raising rates. These arguments vary tremendously over time and place.
One of the core problems with conventional structural-adjustment programmes is the disproportionate cutting of social spending. Why would anyone want to try to imitate a system that is such a failure.