Factors Behind Growth Disparities in the Middle East and Africa
The article focuses on the causes of failure and the decline of economic development in Africa, emphasizing the role of extractive institutions that serve the interests of a small elite at the expense of the majority, and how this impacts the ongoing political and economic collapse. It clarifies that the crisis is not solely financial but also related to the lack of building effective, accountable state institutions, especially after the colonial era. Despite Africa's vast resources, such as in Nigeria, the absence of a social contract and weak governments lead to persistent developmental failure. The article stresses the need for actionable political ideas and projects that focus on building strong, cohesive national institutions, rather than relying on traditional approaches rooted in extractive institutions and corruption, in order to achieve sustainable development and radical change across the continent.
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