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Economic Development in Africa 2007

Reclaiming Policy Space - Domestic Resource Mobilization and Developmental States

image of Economic Development in Africa 2007

The 2007 Report examines domestic resource mobilization for growth and poverty reduction in African countries. It analyses how African countries can increase domestic resources and channel them into productive investments. The Report also examines how African countries can reclaim development “policy space”, and give true meaning to, “ownership” of development strategies that respond to their own priorities within the framework of a “developmental State”.

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The challenge of increasing savings and boostine productive investment

Achieving high and sustainable levels of investment needed for Africa’s development will require a more balanced combination of foreign and domestic resources than has been the case until now. It is expected that more reliance on domestic resources will give countries more policy space to implement strategies that reflect their development priorities, unlike past strategies, which were donor driven. After all, African leaders are answerable to Africans, albeit imperfectly, but donors are not. The resulting increase in ownership of the development agenda should boost the efficiency of development strategies if they focus on those sectors where investment is most productive.

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