1996 | OriginalPaper | Chapter
Macroeconomics and Marginalisation: The Triumph of Hope over Experience
Author : Tony Hawkins
Published in: Can South and Southern Africa become Globally Competitive Economies?
Publisher: Palgrave Macmillan UK
Included in: Professional Book Archive
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The search for appropriate macroeconomic policies to entrench recovery and restore growth to sub-Saharan Africa is increasingly bedevilled by disputes over the trade-off between economic efficiency and equity. In the two decades prior to Africa’s widespread adoption of structural adjustment, macroeconomic policy ‘unmarginalised’ a number of economies—Angola, Nigeria, Zambia, Zaire—for limited periods, while marginalising the poor. Resource-intensive development of plantation agriculture, energy or mining achieved growth of an enclave economy nature with very little, if any, trickledown to the poor, especially the rural poor.