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Economic Report on Africa 2000

Transforming Africa’s Economies

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Many African economies are still characterized by a heavy reliance on the primary sector, high vulnerability to external shocks, jobless growth and slow progress towards social development. It is essential for African countries to promote economic diversification and structural transformation as a means to accelerate and sustain broad-based and shared high-employment-generating growth. This Report highlights that failure of earlier state-led and market-driven approaches to promoting economic transformation points to the need for fostering long-term investment, rapid and sustained economic growth, equity and social development within inclusive, transparent and comprehensive development frameworks.

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Human assets for Africa’s development

Globalization places a high premium on scientific and technological capacity to innovate and adapt and to increase productivity and competitiveness. Growth in the knowledge-driven economy is predicated on a labour force that is healthy and well endowed with knowledge and skills. And despite the progress in education and health in Africa over the past half century, both the volume and quality of human capital are widely acknowledged as grossly insufficient to meet the challenges of the 21st century.

English

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