Write A Detailed Essay On Econmic History Of African States In The Post-colonial Period?

Running head : POST COLONIAL AFRICAN economy HISTORYNameInstitutionIntroductionAt liberty most of the economic provide was held by the condition colonialists and Asian communities in countries like Uganda and Kenya As part of the pre liberty promises the nationalists made was that they would place the economy in the hands of topical anaesthetic anaesthetic people . What followed the raising of the unfermented flag was a doctrinal africanization of the economy . In some countries this took the form of nationalization of hugger-mugger enterprises . Thus for example in Tanzania Julius nyerere instituted his brand of African socialist economy called UjamaaGovernments keen to depone their sovereignty resorted to policies that would ensure their dependency on imports . A number of import electrical switch based companies we re preparation up to address this issue and extraneous direct enthronement greatly encouraged . Multinationals like Unilever and Lonrho took up the invitation and invested to a great extent in African countriesAid became a major component of African budgets as Cold struggle protagonists sought to curry favor with the opinion elect(ip) meeting . By supporting nations financially , the USA and USSR hoped to stretch turn up their spheres of influence . This policy was counterproductive to the African economies as the elite squandered the avail on grandiose projects or plainly pocketed the moneyIn the early 1980 s , the donor community realized that African economies were non playing well .

With the backing of the World Bank and the IMF , African countries were hale to restructure their economies by adopting structural adjustment policies (SAP s Privatization of farming monopolies and the remotion of price controls were the main factors . However , these policies largely failed as they oblige weak economies to open up their markets to international argument and in the process caused the collapse of local industries that could not fight with the accomplished onesAfter the collapse of the Cold War trade not aid became the new focus of western nations . African countries were encouraged to educate for exportation . The problem with this policy is that the trade pacts are heavily tipped in favor of developed countries . Currently in that abide by is a stalemate over the World Trade radical law s rules and regulations African , Pacific and Caribbean nations are beginning to assert their power and demand the right to de velop their economies without outside baulk . gage Colonial African Economic History knave \ MERGEFORMAT 1...If you loss to get a full essay, order it on our website: OrderCustomPaper.com

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