Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/84669
Authors: 
Fosu, Augustin Kwasi
Naudé, Wim
Year of Publication: 
2009
Series/Report no.: 
WIDER Discussion Papers, World Institute for Development Economics (UNU-WIDER) 2009/03
Abstract: 
This paper outlines the impact of the global economic crisis on Africa. Recovery requires coordinated and consistent efforts to assist individual countries in mitigating (reducing) the risk, coping with the impact, and reducing risk over the longer term. Care should be exercised to maintain and improve good governance, which is essential for African countries to avoid introducing various anti-growth policy syndromes into their economies. These could arise if responses to the crisis result in (i) further boom-bust cycles and flaming the historically high volatility of African growth, including inflation, (ii) another debt crisis, (iii) household engaging in adverse coping strategies with lasting impacts; (iv) reversal of gains made in opening up African economies and aid architecture.
Subjects: 
Africa
least developed countries
global economic crisis
financial crisis
governance
JEL: 
G01
F42
O11
O55
ISBN: 
978-92-9230-214-6
Document Type: 
Working Paper

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