Economic Development in Africa 2002

From Adjustment to Poverty Reduction - What Is New?

Previous reports by the UNCTAD secretariat have examined the steps that need to be taken in the trading system and in international development finance cooperation to create the requisite external conditions for sustained and rapid growth in sub-Saharan Africa. This Report assesses issues of institutional reform, governance and corruption, and examines controversies regarding the relation between growth and poverty reduction, the effects of macroeconomic policies on poverty, and the impact of conditional aid and external financing. The first section assesses the extent to which greater participation in and country ownership of programmes are secured and policy aspirations of the poor are met. Next, is a review of approaches now adopted in various areas of economic policy and institutional reform. The concluding section summarizes the main findings of the report and discusses the extent to which the new approach constitutes an improvement over the former structural adjustment policies and holds out promise of a better outcome.

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