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

Running head : POST COLONIAL AFRICAN frugal HISTORYNameInstitutionIntroductionAt freedom most of the economic ability was held by the former colonialists and Asian communities in countries like Uganda and Kenya As part of the pre emancipation promises the nationalists made was that they would place the economy in the hands of local anaesthetic people . What followed the raising of the new flag was a authoritative africanization of the economy . In some countries this took the form of communisation of individual(a) enterprises . Thus for example in Tanzania Julius nyerere instituted his brand of African collectivized economy called UjamaaGovernments keen to assert their sovereignty resorted to policies that would break their settlement on imports . A number of import substitution establish companies were frozen up to addr ess this issue and foreign machinate investiture greatly support . Multinationals like Unilever and Lonrho took up the invitation and invested hard in African countriesAid became a major component of African budgets as Cold War protagonists sought to curry respect with the feeling elite . By supporting nations financially , the regular army and USSR hoped to afford their spheres of influence . This policy was counterproductive to the African economies as the elite squandered the financial aid on highfaluting projects or plainly pocketed the moneyIn the early 1980 s , the donor community agnize that African economies were non performing well .

With the bac! king of the reality commit and the IMF , African countries were forced to restructure their economies by adopting structural adjustment policies (SAP s Privatization of differentiate monopolies and the removal of price controls were the main factors . However , these policies largely failed as they forced weak economies to open up their markets to internationalistic disputation and in the process caused the collapse of local industries that could non deal with the established onesAfter the collapse of the Cold War trade not aid became the new focus of western nations . African countries were encouraged to perplex for export . The problem with this policy is that the trade pacts ar heavily tilted in favor of developed countries . presently at that place is a stalemate over the World Trade system of rules s rules and regulations African , Pacific and Caribbean nations are fountain to assert their power and demand the right to develop their economies without outdoors interference . put Colonial African Economic recital PAGE \ MERGEFORMAT 1...If you wish to get a full essay, coiffure it on our website: OrderCustomPaper.com

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