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The Systems Theory Of Economic Development; As Formulated By Kwabena Meneabe Ackon on 12th November 2020; Discussed In The Context Of Human Capital and, Economic, Social And Political Institutions In Africa

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  • Ackon, Kwabena Meneabe

Abstract

Africa is not poor, yet Africa has piqued the interests of economists for the last half century and there is a good number of academic literature on why Africa is poor. This is because for the resources available to Africa, both natural and human capital potential, the continent has underperformed abysmally. The Systems Theory Of Economic Development explains the current state of Africa. It explains why despite the resources available and the human capital potential, the African continent lags the rest of the world in every measure of economic and social development. The Systems Theory Of Economic Development also provides a framework of what Africa can do to write a new story where economic development is inclusive and provides economic opportunities for the young and able-bodied, reversing the ever-rising tide of public debt while providing a self-sustaining economic, social, and political system that works for all and sundry.

Suggested Citation

  • Ackon, Kwabena Meneabe, 2020. "The Systems Theory Of Economic Development; As Formulated By Kwabena Meneabe Ackon on 12th November 2020; Discussed In The Context Of Human Capital and, Economic, Social And Political Institutions In Africa," MPRA Paper 104205, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:104205
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    References listed on IDEAS

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    1. Akyeampong,Emmanuel & Bates,Robert H. & Nunn,Nathan & Robinson,James (ed.), 2014. "Africa's Development in Historical Perspective," Cambridge Books, Cambridge University Press, number 9781107041158, January.
    2. Grier, Robin M, 1999. "Colonial Legacies and Economic Growth," Public Choice, Springer, vol. 98(3-4), pages 317-335, March.
    3. Dani Rodrik, 2006. "Institutions for High-Quality Growth: What They Are and How to Acquire Them," Chapters, in: Kartik Roy & Jörn Sideras (ed.), Institutions, Globalisation and Empowerment, chapter 2, Edward Elgar Publishing.
    4. Augustin Fosu & Robert Bates & Anke Hoeffler, 2006. "Institutions, Governance and Economic Development in Africa: An Overview," Journal of African Economies, Centre for the Study of African Economies, vol. 15(1), pages 1-9, April.
    5. Charles I. Jones & Paul M. Romer, 2010. "The New Kaldor Facts: Ideas, Institutions, Population, and Human Capital," American Economic Journal: Macroeconomics, American Economic Association, vol. 2(1), pages 224-245, January.
    6. Robert H. Bates, 2006. "Institutions and Development," Journal of African Economies, Centre for the Study of African Economies, vol. 15(1), pages 10-61, April.
    7. Akyeampong,Emmanuel & Bates,Robert H. & Nunn,Nathan & Robinson,James (ed.), 2014. "Africa's Development in Historical Perspective," Cambridge Books, Cambridge University Press, number 9781107691209, January.
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    JEL classification:

    • O1 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development

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