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Adjustment with Growth: a Fragile Consensus

Published online by Cambridge University Press:  11 November 2008

John Ravenhill
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Six years of intense debate have produced a measure of agreement on a solution for Africa's malaise. This is captured by the latest catchphrase of the International Monetary Fund and the World Bank, ‘Adjustment with Growth’, which implicitly acknowledge past errors by African governments – or, minimally, that a continuation of previous policies is no longer tenable in a changed external environment. An emphasis on ‘growth’ recognises that ‘adjustment’ must encompass more than ‘stabilisation’, that the continent needs additional externally-provided financial resources on concessional terms if import strangulation is not to exacerbate the downward economic spiral in which many countries are currently trapped. This fragile consensus is facing its first serious practical test as the World Bank attempts to extend its Structural Adjustment Lending programme in Africa. Clearly, significant differences remain between the attitudes of African governments and external donors, and within the academic community, on the sources of the continent's problems and on the policy measures that are needed to counteract them.

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Articles
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The Journal of Modern African Studies , Volume 26 , Issue 2 , June 1988 , pp. 179 - 210
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Copyright © Cambridge University Press 1988

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References

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Page 181 note 1 Africa's Priority Programme, pp. 3, 12 and 14.

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Page 190 note 6 Green suggests in ‘Consolidation and Accelerated Development of African Agriculture’, pp. 23–4, that the record of private and public-sector organisations varies from crop to crop in Tanzania. Bratton, loc. cit. p. 367, comments that ‘In many African countries, the capitalist market has even flimsier foundations that the state’, and that peasant farmers, as the least accessible of all production units, often have to pay a premium for goods and services priced by markets.

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Page 191 note 2 Cf. Lipton, loc. cit. p. 22: ‘National agricultural research in sub-Saharan Africa is, in general, not cost-effective. It concentrates heavily on a few export crops in price-inelastic demand, where, if it succeeds, the gains go largely to Western consumers. Poor people's crops-especially roots and cheap cereals, where on farm or local consumption (plus hunger) mean that there is little or no problem about inelastic demand-are generally neglected.’

Page 191 note 3 Kjellström, Sven and d'Almeida, Ayite-Fily, ‘Aid Coordination: a recipient's perspective’, in Finance and Development, 23, 3, 09 1986, p. 38.Google Scholar

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Page 191 note 5 Eicher, ‘Strategic Issues’, p. 252.

Page 192 note 1 See, for example, Allison, Caroline, ‘Women, Land, Labour and Survival: getting some basic facts straight’ in IDS Bulletin, 16, 3, 07 1985, pp. 24–30,CrossRefGoogle Scholar ‘What Alternatives for Women in Africa?’, in Ndegwa, Mureithi, and Green (eds.), op. cit. ch. 10, and ‘Health and Education for Development: African women's status and prospects’, in Rose (ed.), op. cit. pp. 111–23. Also Winifred Weekes-Vagliani, ‘Women, Food and Rural Development’, in ibid. pp. 104–10; and Jane I. Guyer, ‘Woman's Role in Development’, in Berg and Whitaker (eds.), op. cit. pp. 393–421.

Page 192 note 2 Green, ‘Consolidation and Accelerated Development of African Agriculture’, p. 25.

Page 192 note 3 See, for example, Daniel, Philip, ‘Zambia: structural adjustment or downward spiral?’, in IDS Bulletin, 16, 3, 07 1985, pp. 52–60.CrossRefGoogle Scholar

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Page 194 note 1 Swainson, Nicola, The Development of Corporate Capitalism in Kenya, 1918–1977 (Berkeley, 1980), p. 191, noted that ‘the use of official positions within the State to advance business interests…is indeed the hallmark of the present stage of indigenous capitalism’.Google Scholar

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Page 195 note 1 Faber and Green, loc. cit. p. 21.

Page 195 note 2 For further discussion, see Ravenhill, ‘Africa's Continuing Crises’, pp. 16–18.

Page 195 note 3 Financing Adjustment with Growth, p. 38.

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Page 196 note 2 Livingstone, loc. cit. p. 116.

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Page 198 note 3 African Debt and Financing, p. 170.

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Page 199 note 2 United Nations, op. cit. p. 20.

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