Reforming the Cape Verdean Economy. The economics of Mudança

Yves Bourdet

Africa Spectrum, 2000, vol. 35, issue 2, 121-163

Abstract: A decade ago Cape Verde embarked on an ambitious programme of marked-oriented economic reforms. In 1997-1998 the reform policy was given a new lease of life and new measures were introduced to secure the withdrawal of the state from many areas of economic activity. This renewal of reform policy was accompanied by a much greater involvement of the multilateral donor community, in particular the IMF, the World Bank and the European Union. The first purpose of this article is to evaluate the design and economic outcome of reform policy. Emphasis is placed on fiscal policy, economic growth, the expansion and distribution of new enterprises, employment and unemployment, and poverty. The reform policy faces domestic constraints of structural, institutional and political character. A second purpose of the article is to see to what extent reform policy can contribute to lessening these constraints and to embarking the country on a more self-sustaining growth path.

Date: 2000
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