The Challenges of Economic and Institutional Reforms in Africa

This work identifies the factors that can create a climate conducive to economic takeoff and applies them to Africa by focusing on the specific challenges faced and examining the critical factors within. The author argues that peace is essential to the elimination of poverty - the central goal of development - and investment in people a necessity. Strong committment from leaders will be required, as well as investment from the private sector. Finally, while the responsibility for development in Africa lies with its governments, the contribution of the international community is important. The vicious circle of poverty needs the successful negotiation from aid dependency to an aid "exit strategy". The author notes that we live in global economy where competitiveness will be the key to the effective integration of Africa into the global economy. To achieve this aim, he maintains, political committment is paramount.