The Historical Origin of African Debt and External Finance Problems
AbstractIn this paper an attempt to address the historical origin of African external finance and debt problem is made. It will be argued that Africa's external finance problem is the result of the structure of its trade in the world economy in general and its place as a commodity producer in particular. This is compounded by the adverse effect of Northern (industrialized countries) macroeconomic policies. The whole purpose of this paper is to underline the existence of an economic structure, primarily built in the colonial era, which still continues to shape the external economic condition of countries in the continent.
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Bibliographic InfoPaper provided by Institute of Social Studies in its series Working Papers - Money, Finance & Development with number 62.
Length: 44 pages
Date of creation: 1997
Date of revision:
DEBT ; TRADE ; AFRICA ; EXTERNAL FINANCING;
Find related papers by JEL classification:
- F33 - International Economics - - International Finance - - - International Monetary Arrangements and Institutions
- H63 - Public Economics - - National Budget, Deficit, and Debt - - - Debt; Debt Management; Sovereign Debt
- N17 - Economic History - - Macroeconomics and Monetary Economics; Industrial Structure; Growth; Fluctuations - - - Africa; Oceania
- N27 - Economic History - - Financial Markets and Institutions - - - Africa; Oceania
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- Alemayehu Geda, 2006. "Openness, Inequality and Poverty in Africa," Working Papers 25, United Nations, Department of Economics and Social Affairs.
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