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Economic Diversification in Africa: How and Why It Matters


Carnegie Endowment for International Peace
Source: Getty
Summary:  Many African countries have placed economic diversification high on the policy agenda, yet they first need to define what it means in their specific structural and socioeconomic contexts.
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Summary
For decades, economic diversification has been a policy priority for low- and middle-income economies. In the words of former managing director of the International Monetary Fund (IMF), Christine Lagarde, “We know that economic diversification is good for growth. Diversification is also tremendously important for resilience.” Unfortunately, this goal continues to elude many African countries. In fact, the continent is home to eight of the world’s fifteen least economically diversified countries. This reality weakens the foundation of their economic transfomation and slows their pace of progress. It also ma ....

United States , United Kingdom , Sri Lanka , Noord Holland , National Bureau Of Economic Research , New York , South Africa , Carnegie Endowment For International Peace , District Of Columbia , Columbia University , International Institute , City Of , Equatorial Guinea , Saudi Arabia , World Bank , Republic Of South Africa , J Peter Neary , Ralf Ruhwedel , Michael Ferrantino , Francisco Garfias , Fuad Hasanov , Francesco Trebbi , Harinder Kohli , Roberto Alvarez , Young Eun Kim , Heiko Hesse ,

India's State institutions are failing citizens because they were built to control, not govern


India’s State institutions are failing citizens because they were built to control, not govern
While centralising elements are necessary at times, the problem is that India’s institutions have not evolved along with the country’s growth.
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More than 70 years after Independence, most of India’s institutions continue to act predominantly as forces of control rather than governance and administration. While centralising elements are necessary at times, the problem largely lies in the fact that these institutions, which stemmed from colonial structures, have not evolved along with the country’s growth, thereby obstructing State capacity. This was perhaps understandable in the initial post-colonial decades given the magnitude of the nation-building project and existential threats. That time, however, is long gone. When we talk about State capacity in India, we are not referring to specific governments or p ....

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