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http://hdl.handle.net/10419/52814
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| Title: | | Angola's incomplete transition  |
| Authors: | | Aguilar, Renato |
| Issue Date: | | 2001 |
| Series/Report no.: | | WIDER Discussion Papers // World Institute for Development Economics (UNU-WIDER) 2001/47 |
| Abstract: | | Angola’s difficulties in achieving macro-economic stability and economic liberalization have serious implications for private-sector development. Hyperinflation, and frequent policy reversal, constrain and distort investment in both the informal and formal parts of the private sector. But macro-economic instability arises in part out of mechanisms that subsidize powerful oligopolies, enabling them to capture a portion of the large oil rents. These subsidies, together with market controls, enable the oligopolies to profit at the expense of small- and micro-enterprises, thereby hindering the creation of more employment for Angola’s poor. Therefore the new private sector that is evolving in Angola owes its character to three factors: the course of the war; the country’s natural resource windfall; and the way in which liberalization and privatization have been pursued. |
| Subjects: | | Sub-Saharan Africa Angola conflict economic reform |
| JEL: | | O1O O55 |
| Document Type: | | Working Paper |
| Appears in Collections: | | WIDER Discussion Papers, United Nations University (UNU)
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