Fordham University Department of Economics ECGA African Economic Development Summer 2018

Transcription

1 Fordham University Department of Economics ECGA African Economic Development Summer 2018 Booi Themeli Ph.D Office Hours: T,R Dealy Hall Room 117-I Tel: (718) Themeli@Fordham.edu Required Texts: There is no required textbook for this course. This is because there is no single text that sufficiently covers all the material required for this class. However the following books and journal articles are recommended: 1. The World Bank (2011): Africa s Future and World Bank s Support to it. The International Bank for Construction and Development, The World Bank, Washington D.C, March Wangari Maathai (2009): The Challenge for Africa. Pantheon Books, New York. 3. McKinsey Global Institute (2010): Lions on the Move, The Progress and Potential of African Economies. Washington DC 4. David k. Leonard and Scott Straus (2005): Africa s Stalled Development: International Causes and Cures. Lynne Rienner Publishers, London UK. 5. Gerald M. Meier and James E. Rauch (2003): Leading Issues in Economic Development. Seventh Edition. Oxford University Press New York, USA 6. Tony Addison (ed) (2003): From Conflict to Recovery in Africa. Oxford University Press, London, UK. 7. The World Bank (1999): Sub-Saharan Africa: From Crisis to Sustainable Growth, The International Bank for Construction and Development, The World Bank, Washington D.C 8. Jeffrey D. Sachs (2005): The end of Poverty; Economic Possibilities for our Time. The Penguin Press, New York. 9. The Economist (March 2 nd, 2013): Emerging Africa, a hopeful Continent. London, UK. 10. Michalopoulos, S and E Papaioannou (2016), The Long-Run Effects of the Scramble for Africa, American Economic Review, 106(7): Other readings as assigned in class.

2 Course Objective: The key objective of this course is to develop an understanding of economic development challenges of Africa, the trade patterns and financial relationships of Africa to the rest of the world. With examples, application and country case studies, the course covers major development challenges and the possible solutions, the growing influence of African economies in industrialized and developing countries as well as future prospects. Class Policy: Students will be responsible for everything covered in class, whether or not they attend. Although there will be time devoted to lectures, this course will require students participation in class and group discussions. Thus, it is important that students attend class and have the assigned readings finished for each session. Occasionally, additional reading material will be handed out in class. Students will also be required to make class presentations on assigned topics. Course grades: Class Participation 10% Homework Assignments 20% Paper 70% ( Due date is August 7th 2017) Prerequisite: Students are expected to have had a good introduction to the tools of Macroeconomic Analysis, Microeconomic Theory and International Economics. COURSE SCHEDULE: Lecture 1: Introduction Learning Objectives: Students understand the characteristics of developing countries in general and how they apply to Africa. Students also understand the obstacles that have impeded growth in these countries. The appropriate roles of the private sector and government in economic development will also be examined. *Gerald Meier and James Rauch (2002): Leading Issues in Economic Development. 7 th Edition. Oxford University Press New York USA Chapter 1 pp *Howard Stein (2003) Rethinking African Development in Ha Joon Chang (ed): Rethinking Development Economics. Anthem Press, London UK. pp *William Easterly (1996): Why is Africa Marginal in the World Economy? in Gavin Maasdorp (ed): Can South and Southern Africa Become Globally Competitive Economies? St. Martin s Press Inc, New York, USA. *Nana Poku (2011): Uneven Globalization and Human Insecurity in Africa in Nana Poku (ed): Security and Development in Southern Africa. Praeger Publishers, Westport CT USA *Yilmaz Akyuz (2001): African Economic Development in a Comparative Perspective Cambridge Journal of Economics, Vol 25 Number 3.

3 Lecture 2: The Political Economy: Democracy, Human Rights, Peace and Security Learning Objectives: Students understand the nature of African political systems. Students understand that the structure of colonial states, an international system that rewards statehood in name but not in practice, and post independence Africa s narrow economic base are the foundation of weak states and personal rule in Africa. *David k. Leonard and Scott Straus (2003): Africa s Stalled Development, International Causes and Cures, Lynne Rienner Publishers, London UK. Chapter 1, Pp Chapter 4, pp *Serge Michailof, Markus Kostner and Xavier Devictor (2002): Post-Conflict Recovery in Africa: An agenda for the Africa Region. Sub-Saharan Africa Working Paper Series # 30, The World Bank, Washington DC USA. Pp *Tony Addison (ed) (2003): From Conflict to Recovery in Africa. Oxford University Press, London, UK. Chapters 1&2,pp *Nunn, N (2008), The Long Term Effects of Africa s Slave Trades, Quarterly Journal of Economics, 123(1), *Nunn, N (2016), Understanding the Long-Run Effects of Africa s Slave Trades, In The Long Economic Shadow of History, Stelios Michalopoulos and Elias Papaioannou (eds.), VoxEU Lecture 3: Economic Performance and Development Learning Objectives: Students understand why African economic performance has been markedly worse than that in other regions. The discussion will also focus on the roles played by rural households, manufacturing firms, factor and product markets. *Paul Collier and Jan Willem Gunning (1999): Explaining African Economic Performance. The Journal of Economic Literature, Vol 38 Number 1. Pp *Paul Collier and Jan Willem Gunning (1999): Why has Africa Grown Slowly? Journal of Economic Perspectives Vol 13 Number 3. Pp * Easterly W (2009): How the Millennium Development Goals are Unfair to Africa. World Development Vol. 37 No. 1 pp *David Wheeler (1984): Sources of Stagnation in Sub-Saharan Africa World Development Vol 12. Pp.1-23 *Jeffrey D. Sachs and Andrew M. Warner (1997). Sources of Slow Growth in African Economies. Journal of African Economies Vol.6 pp *Kempe Ronald Hope Snr (2002): From Crisis to Renewal, Development Policy and Management in Africa. Koninklijke Brill, Danvers, MA USA. Chapter 6 Corruption Ethics and Development in Africa *Brixiova Z, Kamara A B and Ndikumana L (2010): Containing the Impact of the Global Crisis and Paving a Way for Strong Recovery in Africa. African Development Bank Financial Crisis Policy Brief. No 2. pp 1-13.

4 Lecture 4: International Debt Overhang and Aid Learning Objectives: Students understand the heavy burden of international debt on African states economic development process. Students are also introduced to the consequences of African states extreme dependence on overseas aid. *David k. Leonard and Scott Straus (2003): Chapter 2: Debt and Aid; Righting the Incentives in David k. Leonard and Scott Straus (2003): Africa s Stalled Development International Causes and Cures. Lynne Rienner Publishers London UK. pp *Domenico Fanizza (2000): Foreign Aid, Macroeconomic Stabilization and Growth in Malawi, How Effective has Foreign Aid been in Malawi? IMF Working Paper, International Monetary Fund, Washington Dc. Pp *Craig Burnside and David Dollar (2000): Aid, Policies, and Growth American Economic Review, Vol. 90 Number 4 pp *Shantayanan Devarajan, David Dollar and Torgny Holmgren (2000) (Eds): Aid, and Reform in Africa: Lessons from Ten Case Studies, Washington DC, World Bank *Dambisa Moyo (2010): Why Foreign Aid is Hurting Africa. WSJ March 21 *Matthew Jallow (2010): Foreign Aid and Underdevelopment in Africa. Modern Ghana, April 17, *Kang GS, Brixiova, Z and Kamara A B (2010): The European Debt crisis: Risks for Africa? The African Development Bank Group. Market Brief. Vol 1 Issue 2, 14 July 2010 Lecture 5: Human Resources: Education, Health and Gender Issues Learning Objectives: Students understand that the key to Africa s sustainable development is its human capacity. Students understand that education, health and nutrition, and the role of women, all remain Africa s most powerful development engines. *World Bank (2011): Education in Sub-Saharan Africa: Policies for Adjustment, Revitalization and Expansion. Washington DC, World Bank *Jacqui Ala (2003): Aids as a Security Threat in Mwesiga Baregu and Chistopher Landsberg (eds): From Cape to Congo, Southern Africa s Evolving Security Challenges, Lynne Rienner Publishers, London UK. pp *Nana Poku (2001): The Crisis of AIDS in Africa and the Politics of Response in Nana Poku (ed): Security and Development in Southern Africa. Praeger Publishers, Westport,CT,USA *Nathalie de Watterville (2002): Addressing Gender Issues in Demobilization and Reintegration Programs. Sub-Saharan Africa Working Paper Series #33, The World Bank, Washington Dc, pp.1-33

5 Lecture 6: Agriculture and Food Security Learning Objectives: Students understand why food security has perhaps become the area of most urgent concern for much of Africa. Students understand why agricultural productivity remains relatively stagnant. Issues of land reform, land restitution and land distribution are also examined. *Delgado C (1996): Agricultural Transformation: The Key to Broad-Based Growth and Poverty Alleviation in Africa, in B Ndulu B, and N. Van de Walle: An Agenda for Africa s Economic Renewal. Overseas Development Council, US-Third World Policy Perspectives. No. 21, Transaction Books New Brunswick NJ *Sam Moyo and Prosper Matondi (2003): The Politics of Land Reform In Zimbabwe in Mwesiga Baregu and Christopher Landsberg (eds) 2003: From Cape to Congo, Southern Africa s Evolving Security Challenges, Lynne Rienner Publishers, London UK.pp *Sam Moyo (1999): Land and Democracy in Zimbabwe. Harare, Zimbabwe, SAPES Books, *M. Karshenas (2011) Agriculture and Economic Development in Sub Saharan Africa and Asia. Cambridge Journal of Economics Vol. 25.No.3 Lecture 7: Investment-Related Issues and Economic Development Learning Objectives: Students understand that a key characteristic of the economic crisis in Africa has been the low levels of both public and private investment. Students also understand the connection between investment, economic growth and poverty alleviation. *Miria Pigato (2010): The Foreign Direct Investment Environment in Africa, Sub- Saharan Africa Working Paper Series #15, World Bank, Washington DC *Jakob Svenson (2010): The Cost of Doing Business: Ugandan Firms Experiences with Corruption. Sub-Saharan Africa Working Paper #15, World Bank, Washington DC *Peter L. Watson (2001) Export Processing Zones: Has Africa Missed the Boat?. Sub- Saharan Africa Working Paper Series # 17 pp 1-16 *Madani, Dorsat (1999): A Review of the Role and Impact of Export Processing Zones, World Bank, Washington DC *Jean M. Due (1988) Liberalization and Privatization in Tanzania and Zambia World Development Vol.21.no.12 pp Lecture 8: Job Creation and Micro-enterprise Development Learning Objectives: Students understand the role that non-governmental organizations play in job creation, poverty alleviation and economic development in the region. Compulsory Reading: *Sam Afrane (2002): Impact Assessment of Microfinance Interventions in Ghana and South Africa: A synthesis of Major Impacts and Lessons Journal of Microfinance Vol. 4 No 1 Spring 2002 *UN/OSCAL (2000): Microfinance and Poverty Eradication, Strengthening Africa s Microfinance Institutions. New York. UN/OSCAL

6 Lecture 9: Trade and the Global Trading System Learning Objectives: Students understand why the terms of trade have moved sharply against Africa in recent years. Students will also understand why the global trading system, as it is currently structured, is not essentially friendly to African exports. *Francis Ng and Alexander J. Yeats (2010): On the Recent Trade Performance of Sub- Saharan African Countries: Cause for Hope or More of the Same? Africa Region Working Paper Series No.7. World Bank Washington DC *Francis Ng and Alexander J. Yeats (2002) What can Africa Gain from its Traditional Exports? Africa Region Working Paper Series No.26. World Bank Washington DC *Jeffrey D. Lewis, Sherman Robinson and Karen Thierfelder (2002): Free Trade Agreements and the SADC Economies. Africa Region Working Paper Series No.27. World Bank Washington DC *Deaton Angus and Ron Miller (1996): International Commodity Prices, Macroeconomic Performance and Politics in Sub-Saharan Africa Journal of African Economies Vol.5 suppl, pp Lecture 10: Future Perspectives Learning Objectives: Students understand how good economic policies and institutions have led to successes in Botswana, Uganda and Mauritius. The discussion will also examine prospects of the New Partnership for Africa s Development (NEPAD). *Daron Acemoglu, Simon Johnson and James A. Robinson (2009): An African Success Story: Botswana. Discussion Paper Series # 3219, Center for Economic Policy Research, London UK.pp.1-44 *AfDB/OECD (2003): African Economic Outlook: Uganda *Chhibber Ajay and Stanley Fischer (eds) (1991): Economic Reform in Sub-Saharan Africa. The World Bank, Washington DC *Arvind Subramanian and Devesh Roy (2011): Who Can Explain the Mauritian Miracle: Meade, Romer, Sachs or Rodrik? IMF Working Paper, International Monetary Fund, Washington DC *Kempe Ronald Hope Snr (2002): From Crisis to Renewal, Development Policy and Management in Africa. Koninklijke Brill, Danvers, MA, USA. Chapter 9 Development Prospects for Africa: Structural Adjustment and Beyond *International Monetary Fund (2010): World Economic Outlook Update, July Washington DC *Time Magazine (2010): 10 Ideas Changing the World Right Now, Thursday March 12. London