Economic liberalization and constraints to development in sub-Saharan africa

Jomo Sundaram and Rudiger von Arnim ()

Working Papers from United Nations, Department of Economics and Social Affairs

Abstract: This paper critically reviews the impact of globalization on Sub-Saharan Africa (SSA) since the early 1980s. The large gains expected from opening up to international economic forces have, to date, been limited, and there have been significant adverse consequences. FDI in SSA has been largely confined to resource, especially mineral, extraction, even as continuing capital flight has reduced financial resources available for productive investments. Premature trade liberalization has further undermined prospects for SSA economic development as productive capacities in many sectors are not sufficiently competitive to take advantage of any improvements in market access.

Keywords: Development; Agriculture; Africa; Trade liberalization; FDI; Bretton Woods Institutions (search for similar items in EconPapers)
JEL-codes: O1 O2 O55 (search for similar items in EconPapers)
Pages: 42 pages
Date: 2008-09
New Economics Papers: this item is included in nep-afr and nep-dev
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (2)

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Persistent link: https://EconPapers.repec.org/RePEc:une:wpaper:67

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