Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/52814
Authors: 
Aguilar, Renato
Year of Publication: 
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: 
O10
O55
Document Type: 
Working Paper

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