Mitigating the Impacts of the Financial and Economic Crisis in Africa
File Name:Mitigating the Impacts of the Financial and Economic Crisis in Africa
Posted By:Louis A. Kasekende,Léonce Ndikumana,Abdul B. Kamara
Published on 2009 by Editions L'Harmattan
ISBN-10:2296107311
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Book Summary
In spite of impressive growth performance in the last decades, the global economic crisis revealed a high fragility of growth in African economies, especially among those that are heavily dependent on commodity exports. The fragility and lack of depth in African financial markets has also exposed them to adverse effects of volatility of foreign capital outflows. This calls for an urgent need to design strategies to exploit the full potential of domestic resource mobilization and pooling of resources, as well as a rebalancing of exportled growth strategies with policies that promote domestic demand as a basis for sustaining growth in the long-term. Published out of the proceedings of a workshop organized by the African development Bank on `Strategies for Mitigating the Impacts of the Global Financial and Economic Crisis in Africa', this book critically examines the key elements of theses issues and proposes a way forward for revitalizing African economies in a post crisis era.
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