Economic Recovery in Africa

The Paradox of Financial Flows

• Author(s): V. Makhan,
• Publisher: Springer
• Pages: 261
• ISBN_10: 1403920214
  ISBN_13: 9781403920218
  
• Language: en
• Categories: Business & Economics / Development / General , Political Science / Public Policy / Economic Policy , Social Science / Developing & Emerging Countries , Business & Economics / Economics / Macroeconomics , Business & Economics / Development / Economic Development , Business & Economics / Economics / General ,

Description:... African countries have experienced modest economic recovery during the 1990s. But these countries are caught in a vicious circle in which the existing economic structure cannot generate enough savings and export earnings needed to finance their development and mount a sustained assault on widespread poverty. Yet foreign aid has been cut back sharply and the continent receives only a trickle of foreign investment flows. New policy regimes are now in place, creating the right environment for external financing to make a major difference. Development finance is one of the foremost challenges facing African countries and the international community in the new century.