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Local conditions also affect exports; state over-regulation in several African nations can prevent their own exports from becoming competitive. Research in Public Choice economics such as that of Jane Shaw suggest that protectionism operates in tandem with heavy State intervention combining to depress economic development. Farmers subject to ...
They try to explain Africa's economic development as subject to European institutional decisions of the past. European colonial governments had no incentive to create institutions fostering economic development in African colonies, but rather economic extraction of given resources.
Africa Rising is a term coined in 2011 to explain rapid economic growth across Sub-Saharan Africa to date since 2000 and the inevitability of its subsequent continuation. The Financial Times defines Africa Rising as a "narrative that improved governance means the continent is almost predestined to enjoy a long period of mid-to-high single-digit ...
In the years following the end of the Cold War, many African countries have seen steady economic growth, but fueled primarily by non-African exploitation of the continent’s natural resources with raw material exported as unimproved goods. This resource driven growth does not have the concomitant impact on job creation and other social issues ...
The African Economic Community (AEC) is an organization of African Union states establishing grounds for mutual economic development among the majority of African states. [1] The stated goals of the organization include the creation of free trade areas , customs unions , a single market , a central bank , and a common currency (see African ...
There are a number of studies confirming that spatial development in countries with higher levels of economic development differs from countries with lower levels of development. [4] The correlation between geography and a nation's wealth can be observed by examining a country's GDP (gross national product) per capita, which takes into account ...
Development economics is a branch of economics that deals with economic aspects of the development process in low- and middle- income countries. Its focus is not only on methods of promoting economic development, economic growth and structural change but also on improving the potential for the mass of the population, for example, through health, education and workplace conditions, whether ...
Countries fall into four broad categories based on their HDI: very high, high, medium, and low human development. Currently, Seychelles is the only African country that falls into the very high human development category. Somalia has the lowest HDI in both Africa and the world according to the list.