The Wealth and Poverty of African States: Economic Growth, Living Standards and Taxation since the Late Nineteenth Century

Recent data on African economic growth, wages, living standards, and taxes have been unearthed, and Morten Jerven's book, The Wealth and Poverty of African States, explores how these findings transform our understanding of African economic development. He reveals an aggregate pattern of long-run growth from the late nineteenth century into the 1970s, followed by widespread failure and decline in the 1980s, and two decades of expansion since the late 1990s.

Format: Paperback / softback
Length: 280 pages
Publication date: 13 January 2022
Publisher: Cambridge University Press

In recent years, a wealth of groundbreaking data has been unearthed, shedding light on various aspects of African economic growth, wages, living standards, and taxes. In his book, "The Wealth and Poverty of African States," Morten Jerven delves into the profound implications of these findings, transforming our understanding of African economic development. Jerven focuses on the central themes and questions that these state records can answer, tracing the evolution of African states over time and the historical footprint they have left behind. By seamlessly connecting the history of the colonial and postcolonial periods, he unveils an aggregate pattern of long-run growth from the late nineteenth century into the 1970s, giving way to widespread failure and decline in the 1980s. However, this narrative is punctuated by two decades of expansion since the late 1990s, offering a fresh perspective on the causes of poverty and wealth and the trajectories of economic growth and state development in Africa throughout the twentieth century.

The colonial era left a lasting imprint on African economies, with many countries experiencing economic dependence, resource extraction, and political instability. Postcolonial governments sought to address these challenges, implementing policies aimed at promoting economic growth and development. However, the path to economic success was not straightforward, and African countries faced numerous obstacles, including corruption, political instability, and inadequate infrastructure.

One of the key findings of "The Wealth and Poverty of African States" is the long-run growth pattern of African economies. Jerven argues that African states experienced a period of sustained growth from the late nineteenth century into the 1970s, driven by factors such as natural resources, agriculture, and trade. However, this growth was abruptly halted in the 1980s due to a combination of factors, including the collapse of commodity prices, political instability, and the effects of structural adjustment programs imposed by international financial institutions.

The 1980s marked a period of decline and stagnation for many African countries, with high levels of poverty, unemployment, and underdevelopment. However, the late 1990s saw a resurgence of economic growth, driven by factors such as increased investment in infrastructure, trade liberalization, and political stability. This period was characterized by a shift towards more diversified economies, with a growing service sector and increased foreign direct investment.

Despite these positive developments, Africa continues to face significant challenges in terms of poverty, inequality, and economic development. One of the key challenges is the lack of infrastructure, which hinders economic growth and limits access to markets and opportunities. Another challenge is the prevalence of corruption, which undermines investment and economic development and perpetuates poverty.

To address these challenges, African governments and international organizations have implemented various policies and programs aimed at promoting economic growth and development. These include initiatives to invest in infrastructure, promote entrepreneurship and innovation, and address issues of governance and corruption. However, the success of these policies and programs will depend on the commitment and capacity of African governments and the broader international community to invest in and support African economic development.

In conclusion, the wealth of new data on African economic growth, wages, living standards, and taxes has provided a fresh perspective on the complex and multifaceted nature of African economic development. "The Wealth and Poverty of African States" by Morten Jerven offers a valuable contribution to our understanding of the historical and contemporary challenges facing African countries, and provides a roadmap for promoting economic growth and development in the region. By connecting the history of the colonial and postcolonial periods, Jerven reveals an aggregate pattern of long-run growth from the late nineteenth century into the 1970s, giving way to widespread failure and decline in the 1980s, and then followed by two decades of expansion since the late 1990s. This new framework for understanding the causes of poverty and wealth and the trajectories of economic growth and state development in Africa across the twentieth century offers valuable insights for policymakers, investors, and development practitioners. As Africa continues to navigate its path towards economic prosperity, it is crucial to invest in and support policies and programs that promote sustainable and inclusive economic growth, address the root causes of poverty, and promote social and economic development for all Africans.

Weight: 296g
Dimension: 152 x 228 x 17 (mm)
ISBN-13: 9781108440707
Edition number: New ed