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Political Barriers to African Capitalism

Published online by Cambridge University Press:  11 November 2008

Paul Kennedy
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Extract

What constraints have so far prevented the full emergence in subSaharan Africa of strong and effective local capitalist classes capable of playing a leading rôle in the economic transformation of their societies?

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Articles
Information
The Journal of Modern African Studies , Volume 32 , Issue 2 , June 1994 , pp. 191 - 213
Copyright
Copyright © Cambridge University Press 1994

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References

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23 More recently, of course, many régimes have become dependent on I.M.F. and World Bank S.A.P.s that offer funding for reconstruction in exchange for a commitment to economic liberalisation, free markets, open economies, reduced government spending and regulation, the ending of price subsidies, and so on. The extent to which these programmes have helped to revive infant manufacturing or benefitted local entrepreneurs is far from clear.

24 Kennedy, African Capitalism, p. 78.

25 Ibid. ch. 4.

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41 Bratton, loc. cit.