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This convergence in economic performance paved the way for a convergence in policy advice, as African economies embarked on relatively homogeneous structural adjustment programs that were not suited to heterogeneous country conditions. It is quite obvious that future growth will depend on a multitude of variables, and that accurate projections are not feasible. However, it is also beyond doubt that world markets, local political conditions and the costs of factors of production in the domestic economy will play a large part in determining future growth trajectories. To predict the growth of the world economy is a tall order. The future?(Reuters/Jean-Paul Pelissier) This article is an excerpt from the author’s new book, Africa: Why Economists Get It Wrong. 7 hours agoQuartz Africa China’s high growth rates disproves theory that political governance is a determining factor in economic history.(Reuters/Jason Lee) This article was originally published on The Conversation. The methods and analytical angles they have used to explain relative failure in Africa were conceived in the 1990s, but these were unsuitable for explaining growth in the 1960s or growth since the 2000s. Africa’s growth failure happened because of a combination of external economic shocks and a less-than-perfect policy response, from both international donors and national economic policymakers. Why the approach economists have taken to growth in Africa has failed chronically Russia continues to dispute accusations that pro-Russian separatists fighting government forces in east Ukraine shot the airplane down. On July 16, president Vladimir Putin said calls for an international tribunal to investigate the incident were “premature.” Russian officials have suggested that Ukrainian forces shot the plane down, a charge denied by Kiev. WRITTEN BY The dream of a low-carbon future thanks to nuclear power is already looking dated. The two most populous countries in the world—China and India—plus Japan, Germany, Spain, the Netherlands, Mexico, and Brazil already generate more electricity from (non-hydro) renewable sources than they do from nuclear, according to a global nuclear industry report (pdf). That’s 45% of the world’s population that rely on wind, solar, and other green energy more than they do on radioactive atoms. A second argument against the link between governance styles and economic performance is the fact that good governance is an outcome of development and not a prerequisite for growth. The turn toward a literature that delivers useful policy recommendations will involve research that seeks to uncover how African states and economies operate, rather than showing how they differ from those that are richer. The development of world markets after 1973 was bad news for all African economies except the petroleum-exporting ones. Dependence on world markets for primary commodity exports led to a convergence of negative economic performance in the 1980s, with only a few exceptions. WRITTEN BY All African economies have experienced the fluctuations and contractions of world markets, but different economies had different levels of exposure to world markets and they put different policies in place to manage their interactions with those markets. Australian prime minister Tony Abbott said the video highlighted that “this was an atrocity, it was in no way an accident.” But the trend toward more renewable power will likely continue for some time. First, global opinion on nuclear energy soured after the Fukushima disaster in Japan, and as a result plenty of potential nuclear power plants aren’t getting built. Power-hungry China, for instance, is slow to approve new nuclear power plants due to both government and public safety concerns. At the same time, though, it is investing heavily in wind power.


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