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African Successes, Volume IIIModernization and Development$
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Sebastian Edwards, Simon Johnson, and David N. Weil

Print publication date: 2016

Print ISBN-13: 9780226315720

Published to Chicago Scholarship Online: May 2017

DOI: 10.7208/chicago/9780226315867.001.0001

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PRINTED FROM CHICAGO SCHOLARSHIP ONLINE (www.chicago.universitypressscholarship.com). (c) Copyright University of Chicago Press, 2019. All Rights Reserved. An individual user may print out a PDF of a single chapter of a monograph in CHSO for personal use.date: 17 October 2019

Volume Introduction

Volume Introduction

Chapter:
(p.5) Volume Introduction
Source:
African Successes, Volume III
Author(s):

Sebastian Edwards

Simon Johnson

David N. Weil

Publisher:
University of Chicago Press
DOI:10.7208/chicago/9780226315867.003.0011

Volumes I and II in this series focus on what one might view as the pre-conditions for private sector development: peace, a stable political system, effectively functioning institutions, and a population that is healthy and educated enough to engage in production. Volume III turns to quite different dimensions of African development, including some aspects where it is possible to imagine there may even be a “late mover” advantage: finance, mobile phones, and exports. The ten papers in this volume look more closely at economics of private production, with much of the focus being on the behavior of firms. Undoubtedly, these firms operate in a difficult institutional and physical environment. Outside of natural resource exports, industries that have to compete in a world market (such as textiles and tourism) often struggle. At the same time, there exist pockets of dynamism, the most visible being mobile phones. In the banking sector, the continent’s position trails significantly behind the rest of the world in terms of both allocative efficiency and access by the poor to financial services. In some places, however, there are rapid improvements, often aided by new technology.

Keywords:   Africa, economic development, finance, banking, microfinance, mobile phones, exports, textiles

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