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Periodical article Periodical article Leiden University catalogue Leiden University catalogue WorldCat catalogue WorldCat
Title:Structural adjustment policies in African countries: a theoretical assessment
Author:Okogu, B.E.ISNI
Year:1987
Periodical:Zeitschrift für Afrikastudien
Issue:1
Pages:71-99
Language:English
Geographic terms:Ghana
Nigeria
Zambia
Subject:economic policy
Abstract:This paper argues that the structural adjustment policies as presently formulated are deficient in their analysis of the current economic crisis facing African countries. This criticism stems not only from the practical difficulties of implementation, as demonstrated for the cases of Zambia, Ghana, and Nigeria, but also from theoretical considerations. The theoretical weakness of the structural adjustment programmes arises from the fact that the peculiar characteristics of underdeveloped countries are ignored. The paper presents a stylized macromodel of the underdeveloped economy, which is used to analyse the effects of some of the adjustment policies. It argues that such factors as profit repatriation and debt payments, the skewed nature of income distribution, and the sterilization of the proceeds of currency auctioning, make the structural adjustment policies produce perverse results, thereby undermining the underdeveloped African economies. Bibliogr., notes, ref., sum. in German.
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