The Debt Crisis and Africa's Maldevelopment

Danso, Alex

doi:10.1111/j.1747-1346.1990.tb00294.x

Cited by 3 publications

(2 citation statements)

References 9 publications

(13 reference statements)

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“…Recovery Program, referred to as the Structural Adjustment Program in 1983(Steel and Webster 1992). One of the solutions put forward by the International Monetary Fund and World Bank was privatisation(Danso 1990). The rationale was that the belt tightening of the national finances was needed to stem the squandering of national resources on unprofitable SOEs.…”

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confidence: 99%

Revitalising serial entrepreneurship in sub-Saharan Africa: insights from a newly emerging economy

Amankwah‐Amoah¹

2017

Technology Analysis & Strategic Management

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In light of the growing national priority to develop and revitalise entrepreneurship in emerging economies, our understanding of barriers to serial entrepreneurship (SE) in such a context warrants further scholarly attention. Using insights from Ghana, an integrated framework of endogenous and exogenous barriers to SE is advanced. The study identified factors such as stigmatisation of business failure, fear of failure, successive governments' suspicion of the private sector and lack of a clear national policy as barriers to the development of SE. By creating conditions for destigmatising of failure, countries would be able to create conditions for more serial entrepreneurs to emerge and flourish. The analysis also indicates that reinvigorating entrepreneurship by providing space and opportunity for failed entrepreneurs to re-emerge would enable such countries to enhance entrepreneurial activities and improve economic development. The implications for technology analysis and strategic entrepreneurship literature are identified and examined.

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confidence: 99%

Revitalising serial entrepreneurship in sub-Saharan Africa: insights from a newly emerging economy

Amankwah‐Amoah¹

2017

Technology Analysis & Strategic Management

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“…Among early studies, Danso (1990) categorizes the causes of Africa's debt crisis into two categories; (i) exogenous sources of debt in colonialism and the emergence of capitalism in developing countries. (ii) endogenous factors such as high birth rate, inefficient tax administration, and tax base, lack of saving base, insufficient investment, and pegged exchange rate regime that prevents the appropriate devaluation to encourage exports.…”

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confidence: 99%

Corruption and Debt Hangover: An Empirical Study of sub-Saharan Africa

Anaraki¹

2020

ijbass

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This paper investigates the determinants of foreign debt for 25 countries in sub-Saharan Africa (SSA). Previous studies have emphasized factors such as oil price shocks, deteriorating terms of trade, rising public expenditures, and trade deficit as the main causes of debt hangover in SSA. This study uses a different approach, and measures the effects of corruption on debt through different regression models, and finds that the corruption index is significant in shaping debt hangover in sub-Saharan Africa. Also, the estimated results indicate that the corruption index plays a more important role compared to other macroeconomic fundamentals. The results also indicate that corruption has become a more significant post financial crisis of 2007 when several African countries faced with a new phase of debt forgiveness. Indeed, the results of this study suggest that debt forgiveness has entrapped SSA countries with more corruption, which has exacerbated the level of debt.

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Export pressure and the less developed countries' (LDCs') debt problem

Oguledo

1993

J of Intl Development

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This paper examines the effect of the external debts of less developed countries (LDCs) on their exports to the United States. Specifically, the effect that manifests as pressure on the 48 most indebted LDCs to export to the US is investigated. Cross‐ sectional regression analysis and data for 1984 are used in the estimation. The estimates show that the burden of external debts put significant pressure on LDCs to export. The estimates also suggest that the LDCs are conscious of their creditworthiness in the international financial market. Furthermore, the results highlight the inadequacy of the current General Agreement on Tariffs and Trade (GATT) negotiations that focus on trade in goods and services to the exclusion of the LDCs' debt problem. GATT negotiations should give LDCs' market access to industrialized countries greater weight on its agenda as an attempt at tackling the LDCs' debt problem. This is necessary for the long‐term growth of these LDCs, a concern to which enough attention has not been paid. In addition, Western donor countries and their banks should provide more debt relief to these debtor countries. This will enable LDCs to retain a substantial part of their export earnings. Uncertainty is reduced, thus providing the much‐needed impetus for entrepreneurs in these poor economies to commit themselves to long‐term investments. This will guarantee long‐term economic growth.

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The Debt Crisis and Africa's Maldevelopment

Cited by 3 publications

References 9 publications

Revitalising serial entrepreneurship in sub-Saharan Africa: insights from a newly emerging economy

Revitalising serial entrepreneurship in sub-Saharan Africa: insights from a newly emerging economy

Corruption and Debt Hangover: An Empirical Study of sub-Saharan Africa

Export pressure and the less developed countries' (LDCs') debt problem

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