Learning and Industrial Policy: Implications for Africa
Bruce Greenwald and
Joseph Stiglitz
Additional contact information
Bruce Greenwald: Columbia University
Chapter 1.1 in The Industrial Policy Revolution II, 2013, pp 25-49 from Palgrave Macmillan
Abstract:
Abstract Over the past thirty years, Africa has suffered from deindustrialization. The quarter century from the early 1980s was a period of declining per capita income and increasing poverty. Structural adjustment policies advocated by the IMF and the World Bank were predicated on the belief that by eliminating “distortions” in the economy, Africa would grow faster - by constructing an economy based on principles of free and unfettered markets, with the government restrained to ensuring macro-stability (which typically just meant price stability), economic performance would be increased and all would benefit.
Keywords: Exchange Rate; Interest Rate; Foreign Direct Investment; Monetary Policy; Real Exchange Rate (search for similar items in EconPapers)
Date: 2013
References: Add references at CitEc
Citations: View citations in EconPapers (10)
There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.
Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
HTML/Text
Persistent link: https://EconPapers.repec.org/RePEc:pal:intecp:978-1-137-33523-4_2
Ordering information: This item can be ordered from
http://www.palgrave.com/9781137335234
DOI: 10.1057/9781137335234_2
Access Statistics for this chapter
More chapters in International Economic Association Series from Palgrave Macmillan
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().