Recent Economic Growth in Africa

Abstract

Although Africa was in the forefront of world progress at the beginning of time, she fell behind due to isola tion and a most difficult environment. When she came again into contact with the world, almost five centuries ago, the im pact through the slave trade and spread of disease was rather to destroy the few gains she had made than to help her pro gress. The introduction of the railway, establishment of peace and order, and the inflow of capital from abroad were positive contributions, but, up to World War II, no sustained attempt was made by the governments of the metropolitan powers to stimulate economic development in Africa. After World War II, a major effort began to be made to help her develop—an effort which was helped by favorable prices for African prod ucts due to full employment in the industrialized countries. And gross national product in Africa did grow quite rapidly up to about 1960. Since then, the transitional difficulties of inde pendence and the deterioration of African terms of trade have slowed growth again. The new governments in the main, with all their problems, however, are making an economic develop ment effort that compares favorably with other areas of the world.