Download e-book for iPad: Africa's Turn? (Boston Review Books) by Edward Miguel

By Edward Miguel

ISBN-10: 0262012898

ISBN-13: 9780262012898

ISBN-10: 0262254972

ISBN-13: 9780262254977

Edward Miguel, coauthor with Raymond Fisman of monetary Gangsters: Corruption, Violence, and the Poverty of countries, is affiliate Professor of Economics and Director of the guts of Evalulations for international motion on the college of California, Berkeley.

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Many social science researchers have sought to establish foreign aid’s causal impacts on economic growth, but there are still no definitive statistical answers. Yet a look at the raw data on foreign aid across regions and time suggests that aid has probably played a rather small role in Africa’s recent economic success. edward miguel  Foreign Aid Per Capita Sub-Saharan Africa, India, and China (1960 - 2005) OFFICIAL DEVELOPMENT ASSISTANCE PER CAPITA 50 SUB-SAHARAN AFRICA INDIA CHINA 40 30 Constant 2005 USD 20 10 0 1960 65 70 75 80 85 90 95 00 2005 Source: Organization for Economic Cooperation and Development The first instructive comparison is Africa versus the world’s two other poor giants, China and India, both of which were at African per capita income levels in the 1970s.

Leaving controversial cases like these aside for the moment, China’s economic rise has clearly benefited many millions of Africans, especially through growing trade and higher global commodity prices. And the billions in Chinese investment currently pouring into Africa hold out the possibility of better infrastructure and industrial development in the edward miguel  long run: in 2007, China committed another $20 billion to finance trade and infrastructure development throughout Africa. Beyond the rise of China, access to richcountry markets for agricultural exports is a key issue for African economies.

Total Asia-Africa trade increased to more than $100 billion dollars in 2006 from trivial levels a decade earlier, and China has been partner to much of that gain. Rising commodity prices are a big part of the story. Global prices for petroleum, minerals, and agricultural products have soared over the past five years as surging Asian demand meets limited world supplies. Crude oil is the best-known example. Its price has more than tripled since 2000, depositing many more dollars in the coffers of the big African producers like Nigeria, Angola, Chad, Sudan, and Gabon.

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Africa's Turn? (Boston Review Books) by Edward Miguel

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