The Decline of an Economy
As shown in Chapter 2, the World Bank, the premier international agency lending to African countries, developed in the 1980s a standard explanation for poor economic performance which it applied generally to the countries of the SSA region. In this analysis, external shocks to the sub-Saharan countries enter as secondary effects, with the primary cause of economic decline resulting from poor economic policy (‘mismanagement’) and especially unwise investment decisions. This characterization of a sub-continent’s problems is not a strawman created by the critics of the Bank, but an argument repeated again and again with great force in official documents.
KeywordsEconomic Crisis Income Defend
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