Towards new development strategies for Africa in the 1990's: key lessons from the past and policy options for the future

Abstract

Since the beginning of the 1980s, when a series of external shocks sharp drops in commodity prices, abrupt falls in external resource flows, and steep increases in interest rates led to rapid declines in economic growth and income, the African Continent has been in a state of prolonged economic crisis and stagnation. The serious difficulties that many African countries have faced and continue to face in bringing about economic turnarounds naturally raises the issue of whether they have been following appropriate development strategies in the last decade and a half. If indeed such programmes are found to be lacking in certain important aspects, it will be necessary to propose changes and modifications, or altogether design alternative development strategies. In this paper, the suitability of current development strategies in Africa is re-examined from the perspective of Africa's economic performance during the last decade, and in the light of the findings and recommendations of the south commission report. The re-assessment also seeks to draw on studies of successful cases of development in other regions.