Macroeconomics and Marginalisation: The Triumph of Hope over Experience

Tony Hawkins

Chapter 14 in Can South and Southern Africa become Globally Competitive Economies?, 1996, pp 159-171 from Palgrave Macmillan

Abstract: Abstract The search for appropriate macroeconomic policies to entrench recovery and restore growth to sub-Saharan Africa is increasingly bedevilled by disputes over the trade-off between economic efficiency and equity. In the two decades prior to Africa’s widespread adoption of structural adjustment, macroeconomic policy ‘unmarginalised’ a number of economies—Angola, Nigeria, Zambia, Zaire—for limited periods, while marginalising the poor. Resource-intensive development of plantation agriculture, energy or mining achieved growth of an enclave economy nature with very little, if any, trickledown to the poor, especially the rural poor.

Keywords: Foreign Direct Investment; Human Development Index; Structural Adjustment; Institutional Capacity; Wealth Distribution (search for similar items in EconPapers)
Date: 1996
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-349-24972-5_15

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DOI: 10.1007/978-1-349-24972-5_15

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