Abstract
Despite the huge resources that are available in Africa, the nation-states have been unable to harness them toward the development of African states and societies. Abundance of oil resources, for instance, have been adjudged a curse. One of the reasons for this contradiction is the imposition of a liberal economic blueprint by global capitalist powers. Upon the attainment of political independence from Western colonial powers, Africa continues to groan under the weight of globalization. Globalization generates a free market economy, which has become the guise for the spread of Anglo-American capitalism throughout the world. Despite the promise of democratization and economic buoyancy, upon the implementation of economic reforms in Africa, socio-economic and political turmoil prevail.
This is a preview of subscription content, log in via an institution to check access.
Access this chapter
Tax calculation will be finalised at checkout
Purchases are for personal use only
Similar content being viewed by others
References
Ake, Claude. 1981. The Political Economy of Africa. London: Longman.
Akinola, Adeoye O. 2009. Godfatherism and the Future of Nigerian Politics. African Journal of Political Science and International Relations 3 (6): 268–272.
———. 2018a. Globalization, Democracy and Oil Sector Reform in Nigeria. New York: Palgrave Macmillan.
———. 2018b. The Role of International Financial Institutions in Africa. In The Palgrave Handbook of African Politics, Governance and Development, ed. Samuel O. Oloruntoba and Toyin Falola, 679–693. New York: Palgrave Macmillan.
Akinola, Adeoye O., and Henry Wissink. 2018. Public Sector Performance in the Nigerian Downstream Oil Sector: A Critical Reflection. Journal of Asian and African Studies 53 (3): 476–490.
Alex, Gboyega, Tina Soreide, Tuan Minh Le, and G.P. Shukla. 2011. Political Economy of the Petroleum Sector in Nigeria. The World Bank Public Policy Research Working Paper 5779: 1–57.
Amin, Samir. 1999. The Challenge of Globalization. Review of International Political Economy 3 (2): 216–259.
Bienen, Henry, and Jeffrey Herbst. 1996. The Relationship between Political and Economic Reform in Africa. Comparative Politics 29 (1): 23–42.
Cooke, Edgar F.A., Sarah Hague, Luca Tiberti, John Cock Burnc, and Abdel-Rahmen El Lahgad. 2015. Estimating the Impact on Poverty of Ghana’s Fuel Subsidy Reform and a Mitigating Response. Journal of Development Effectiveness 8 (1): 1–24.
de Kock, Petrus, and Kathryn Sturman. 2012. The Power of Oil: Charting Uganda’s Transition to a Petro-State, Governance of Africa’s Resources Programme. SAIIA Research Report 10: 1–68.
Dunklin, Arthur L. 2005. Globalization: A Portrait of Exploitation, Inequality, and Limits. Globalizations 5 (2). http://globalization.icaap.org/content/v5.2/dunklin.html.
Gebreeyesus, M. 2016. Industrial Policy and Development in Ethiopia: Evolution and Present Experimentation, Learning to Compete. Working Paper No. 6. https://www.brookings.edu/wp-content/uploads/2016/07/L2C_WP6_Gebreeyesus-1.pdf
Gibbon, Peter. 1993. Introduction: Economic Reform and Social Change in Africa. In Social Change and Economic Reform in Africa, ed. Peter Gibbon, 11–23. Uppsala: The Scandinavian Institute of African Studies.
Grugel, Jean. 2003. Democratization Studies Globalization: The Coming of Age of a Paradigm. British Journal of Politics and International Relations 5 (2): 258–283.
Held, D., and A. McGrew. 2000. The Global Transformations Reader. Malden: Blackwell Publishing.
Jamasb, Tooraj, Rabindra Nepal, Govinda Timilsina, and Michael Toman. 2014. Energy Sector Reform, Economic Efficiency and Poverty Reduction. Washington DC: The World Bank.
Kupolokun, Funso. 2004. Downstream Regulation: Achievements and Emergency Challenges. Available on http://www.pppra-nigeria.org/articledetails.asp?ArticleID=5
Lindebjerg, Erik, Peng Wei, and Yeboah Stephen. 2015. Do Policies for Phasing Out Fossil Fuel Subsidies Deliver What They Promised? Social Gains and Repercussions in Iran, Indonesia and Ghana. UNRISD Working Paper WP 215-1: 1–38.
Lipset, S.M. 1959. Some Social Requisites of Democracy, Economic Development and Political Legitimacy. American Political Science Review 53 (1): 69–105.
Murithi, Timothy. 2006. African Approaches to Building Peace and Social Solidarity. The International Conference on Strategies for Peace with Development in Africa. The University for Peace and African Union. Addis Ababa: Ethiopia. 12–14 June.
Nabudere, W. Dani. 2000. Globalization, the African Post-Colonial State. In Globalization and the Post-Colonial African State, ed. W. Dani Nabudere. Harare: Association of African Political Studies.
Njanji, Susan. 2019. Police Detain Leading Zimbabwe Activist After Protest. http://www.msn.com/en-za/news/world/police-detain-leading-zimbabwe-activist-after-protests/ar-BBSjnhD?li=BBqfP3n&ocid=wispr
Olaopa, Tunji. 2011. Managing Complex Reforms. Ibadan: Bookcraft.
Ross, Michael. 1999. The Political Economy of the Resource Curse. World Politics 51: 297–322.
———. 2001. Does Oil Hinder Democracy? World Politics 53 (3): 325–361.
Rostow, W.W. 1960. The Stages of Economic Growth: A Non-Communist Manifesto. Cambridge: Cambridge University Press.
Stein, Howard. 1994. Theories of Institutions and Economic Reform in Africa. World Development 22 (12): 1833–1849.
Umezurike, C. 2012. Globalization, Economic Reforms and Democracy in Nigeria. Africa Development XXXVII 2: 25–61.
Uzodike, U. 1996. Democracy and Economic Reforms: Developing Underdeveloped Political Economies. Journal of African and Asian Studies XXXI (1–2): 21–38, 31.
Yagboyaju, A. Dhikru. 2009. The State and Governance Crisis in Nigeria. Ibadan: University of Ibadan Press.
Author information
Authors and Affiliations
Corresponding author
Editor information
Editors and Affiliations
Rights and permissions
Copyright information
© 2020 The Author(s)
About this chapter
Cite this chapter
Akinola, A.O. (2020). Economic Reforms in Africa: A Critical Appraisal. In: Oloruntoba, S.O., Falola, T. (eds) The Palgrave Handbook of African Political Economy. Palgrave Handbooks in IPE. Palgrave Macmillan, Cham. https://doi.org/10.1007/978-3-030-38922-2_26
Download citation
DOI: https://doi.org/10.1007/978-3-030-38922-2_26
Published:
Publisher Name: Palgrave Macmillan, Cham
Print ISBN: 978-3-030-38921-5
Online ISBN: 978-3-030-38922-2
eBook Packages: Political Science and International StudiesPolitical Science and International Studies (R0)