The Politics of Africas Economic Stagnation or A Strategy for IMF Reform

The Politics of Africa's Economic Stagnation

Author: Richard Sandbrook

African states are not, in any real sense, capitalist states. Elsewhere, the state has played a crucial role in facilitating capitalist expansion, but in postcolonial Africa one finds a form of neopatrimonialism - personal rule - that introduces a variety of economic irrationalities. Productive economic activities are impeded by the political instability, systemic corruption and maladminstration associated with personal rule. In extreme cases, a downward spiral of political-economic decline is set in motion that is difficult to halt and reverse. Is personal rule simply a euphemism for ineptitude and mismanagement? The authors argue that it is not; it operates according to a particular political rationality that shapes a ruler's actions when, in the absence of legitimate authority, he is confronted with the challenge of governing an unintegrated peasant society. Neopatrimonialism is essentially an adaptation of colonial-inspired political institutions to peculiar historical and social conditions. This book focuses on the political factor as an important cause of Africa's economic ills. It analyses the social conditions impelling political adaptation and the consequences of personal rule for economic life, and surveys creative responses to the predicament African people now face.

Interesting textbook: Consuming The Inedible or Le Cordon Bleu Guia Completa de las Technicas Culinarias

A Strategy for IMF Reform, Vol. 77

Author: Edwin M Truman

The International Monetary Fund (IMF) is in eclipse as the preeminent institution promoting international economic and financial stability, in large measure because of a lack of consensus on its role, says former US official Edwin M. Truman. It should not focus primarily on global poverty or on international financial crises affecting a small group of vulnerable economies. Instead, it must engage each of its members on the full range of their economic and financial policies and play a central role in shaping global economic performance - in particular, the policies of systemically important countries.

Table of Contents:

1	The agenda for IMF reform	1
2	IMF activities and reform efforts	23
3	Role in the international monetary system	45
4	Governance	61
5	Lending facilities	83
6	Financial resources	107