By Ishrat Husain, Rashid Faruquee
The booklet provides case reviews of Burundi, Cote d'Ivoire, Ghana, Kenya, Nigeria, Senegal and Tanzania - all selected for the big variety of stipulations current earlier than their person adjustment programmes all started. The reports make certain that at any time when adjustment programmes are vigorously pursued, effects are strongly optimistic from the viewpoints of development and relief of poverty. A key point in making sure a winning adjustment programme is powerful motivation and dedication by way of the management of every state. Too many abrupt, unpredictable and common alterations and reversals of guidelines erode the credibility of the programmes, accentuate the uncertainties, and decelerate investor self belief. in brief, the good fortune of reforms hinges on coverage balance, continuity and predictability.
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Extra resources for Adjustment in Africa: lessons from country case studies
Burundi also suffers from relatively inflexible and oligopolistic markets, and from a public sector that controls the majority of productive enterprises. Not only is agriculture's contribution to GDP superior to that of industry and services, but it depends highly on a single crop, coffee. As a result, Burundi is excessively exposed to the fluctuations of a single market, making diversification policies typically recommended by an adjustment program difficult to implement. In retrospect, the government's reform effort, initiated in 1986, was too optimistic about how quickly the economy could be transformed given the initial limited commitment to the program, the extent of structural distortions in the economy, and the sensitive sociopolitical environment.
Title : Adjustment in Africa : Lessons From Country Case Studies World Bank Regional and Sectoral Studies author : Husain, Ishrat publisher : World Bank isbn10 | asin : 0821327879 print isbn13 : 9780821327876 ebook isbn13 : 9780585265261 language : English subject Structural adjustment (Economic policy)--Africa, Sub-Saharan--Case studies, Africa, Sub-Saharan--Economic policy--1960- --Case studies. 5/0967 subject : Structural adjustment (Economic policy)--Africa, Sub-Saharan--Case studies, Africa, Sub-Saharan--Economic policy--1960- --Case studies.
Even Senegal registered a growth turnaround, though a small one, despite the handicap of an overvalued exchange rate. Côte d'Ivoire, which once had an impressive growth rate, cannot return to its precrisis rate unless it resolves its exchange rate problems. Page 5 The supply response The most significant contributor to domestic supply and output in the region is agriculture, and closely related to it is the export sector, which relies heavily on agricultural commodities, mining, and petroleum. Although the data on agricultural production and value added do not always seem to tell the same story, all seven countries showed improvement in this sectora trend corroborated by evidence on prices, food imports, and food aid.