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Economic Report on Africa 2011

Governing Development in Africa - The Role of the State in Economic Transformation

image of Economic Report on Africa 2011

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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Selected Current and Emerging Development Issues in Africa in 2010

This chapter discuss es selected current and emerging development challenges facing Africa in 2010, focusing on international trade, financing for development and the green economy. In trade, Africa experienced huge falls in 2009, largely parallel with that of global trade. There were signs of recovery in 2010 but they were slow and uncertain. Looking more closely into the micro structure of Africa’s trade, trade in services demonstrated stronger resistance against external global shocks, in sharp contrast to vulnerable merchandise trade. Swiftly growing cooperation between Africa and the main emerging economies also helped offset some of the trade impact due to decreased global demand. These signs reflect the potential that international trade holds for Africa.

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