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

Running head : POST COLONIAL AFRICAN sparing HISTORYNameInstitutionIntroductionAt liberty most of the economic provide was held by the former colonialists and Asian communities in countries like Uganda and Kenya As part of the pre independence 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 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 assert their sovereignty resorted to policies that would break their dependency on imports . A number of import substitution based companies were preparation up to address this issue and foreign 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 War protagonists sought to curry favor with the opinion elite group . By supporting nations financially , the USA and USSR hoped to stretch out their spheres of influence . This policy was counterproductive to the African economies as the elite squandered the avail on grandiose projects or evidently pocketed the moneyIn the early 1980 s , the donor community realized that African economies were non performing well .

With the backing of the World Bank and the IMF , African countries were forced to restructure their economies by adopting structural adjustment policies (SAP s Privatization of farming 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 international argument and in the process caused the collapse of local industries that could not fight 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 educate for export . The problem with this policy is that the trade pacts are heavily tilted in favor of developed countries . Currently in that respect is a stalemate over the World Trade organic law s rules and regulations African , Pacific and Caribbean nations are beginning to assert their power and demand the right to develop their economies without outside interference . gage Colonial African Economic History PAGE MERGEFORMAT 1...If you loss to get a full essay, order it on our website: Orderessay

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