X hits on this document

68 views

0 shares

0 downloads

0 comments

4 / 29

Background

A vicious cycle of bad policy to poor economic performance seemed to be completed by the late 1970s:

high prices led to high interest rates, driving up the cost of investment and exacerbating the poor economic conditions.

Under such unfavorable investment climate, would-be investors and government officials found it more profitable to engage in rent-seeking and other corrupt activities.

The return to multi-party democracy and constitutional rule began an economic and political stabilization process never seen before in the post-colonial era

Growth has become steady and appreciable

Significant progress in reducing poverty has occurred; from 51.7% in 1992 to 39.6% in 1999 and 28.5% in 2006

Document info
Document views68
Page views68
Page last viewedThu Dec 08 08:01:33 UTC 2016
Pages29
Paragraphs275
Words2511

Comments