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

Running head : POST COLONIAL AFRICAN stinting HISTORYNameInstitutionIntroductionAt freedom most of the economic ability was held by the causation 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 anesthetic 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 nationalization of individual(a) enterprises . Thus for example in Tanzania Julius nyerere instituted his brand of African collectivised economy called UjamaaGovernments keen to assert their sovereignty resorted to policies that would break their habituation on imports . A number of import substitution base companies were fro zen up to address this issue and foreign bespeak investiture greatly promote . Multinationals like Unilever and Lonrho took up the invitation and invested severely in African countriesAid became a major component of African budgets as Cold War protagonists sought to curry favor with the feeling elite . By supporting nations financially , the the States 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 impressive projects or plainly pocketed the moneyIn the early 1980 s , the donor community effected that African economies were non performing well .

With the backing of the orbit banking company and the IMF , African countries were forced to restructure their economies by adopting structural fitting policies (SAP s Privatization of differentiate monopolies and the removal of price controls were the main factors . However , these policies mostly failed as they forced weak economies to open up their markets to outside(a)(a) disputation and in the process caused the collapse of local industries that could not 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 . soon at that place is a stalemate over the World Trade system of rules s rules and regulations African , Pacific and Caribbean nations are origination to assert their power and demand the right to develop their economies wit hout outside interference . put Colonial African Economic bill PAGE \ MERGEFORMAT 1...If you wish to get a full essay, edict it on our website: BestEssayCheap.com

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