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Economic policy of Angola and development of its national economy

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  • Jiří Sýkora

Abstract

The article describes the state and development of Angolan economy. From being one of the strongest economies in Africa, Angola was transformed by long-term civil conflict into debris of its former fame. Fortunately, the fighting has finished a few years ago and fortunately again, Angola is rich in natural resources, above all in oil. This article looks at the recent developments of Angolan economy and the lack of government's good will and capacity to use the vast and growing oil revenue for the benefit of national economy. Thanks to the situation of world oil market Angolan government can easily push aside the international calls for reforms and transparency and access sufficient financial resources from the likes of China. Still, there is a hope Angolan government will yield under the international pressure and reform its macroeconomic policies. This is the premise for returning to Angola's former economic shape.

Suggested Citation

  • Jiří Sýkora, 2009. "Economic policy of Angola and development of its national economy," Acta Oeconomica Pragensia, University of Economics, Prague, vol. 2009(1), pages 60-77.
  • Handle: RePEc:prg:jnlaop:v:2009:y:2009:i:1:id:4:p:60-77
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    References listed on IDEAS

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    1. World Economic Forum & World Bank & African Development Bank, 2007. "The Africa Competitiveness Report 2007," World Bank Publications, The World Bank, number 6612.
    2. N/A, 2007. "At a Glance," National Institute Economic Review, National Institute of Economic and Social Research, vol. 200(1), pages 2-3, April.
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    More about this item

    Keywords

    economic policy; fiscal policy; international relations;

    JEL classification:

    • E66 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - General Outlook and Conditions
    • O55 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies - - - Africa
    • Q38 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Nonrenewable Resources and Conservation - - - Government Policy (includes OPEC Policy)

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