Macroeconomic Management in the World Economy - An Exploratory Note on Africa

Brasov (Romania): Review of General Management, Vol. 9 No. 1, pp. 19-32, 2009

14 Pages Posted: 19 May 2009 Last revised: 7 May 2015

See all articles by Ravinder Rena

Ravinder Rena

Papua New Guinea University of Technology; Polytechnic of Namibia; University of the Western Cape; North-West University; Papua New Guinea University of Technology

Date Written: May 11, 2009

Abstract

In the 1980s, the focus in economic management in Africa shifted towards macroeconomic stabilization policies. This led to the neglect of sectoral policies and microeconomic reforms, which are critical for industrialization and diversification. In line with this, the African economies continue to sustain the growth momentum for the past few years. However, most African countries’ real growth rates have remained low relative to their development goals. Improved economic management and increases in non-oil commodity prices have more than offset the negative impact of high oil prices on the real GDP of African oil importing economies. African countries also continue to face the challenge of other deadly diseases, especially malaria and HIV/AIDS, remained as the deadly killer diseases in the continent. This paper explores macroeconomic imbalances in the global economy. It delves the recent developments that occurred in the African economy in recent years. It also emphasizes certain diversification policies which are pertinent in the development of African economies.

Keywords: Macroeconomic imbalances, World Economy, African Economy, Diversification, growth policies, external debt

JEL Classification: E2, F31, H11

Suggested Citation

Rena, Ravinder, Macroeconomic Management in the World Economy - An Exploratory Note on Africa (May 11, 2009). Brasov (Romania): Review of General Management, Vol. 9 No. 1, pp. 19-32, 2009. Available at SSRN: https://ssrn.com/abstract=1402525

Ravinder Rena (Contact Author)

Papua New Guinea University of Technology ( email )

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Lae, Morobe 411
Papua New Guinea

HOME PAGE: http://www.unitech.ac.pg

Polytechnic of Namibia ( email )

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Windhoek, Khomas 13388
Namibia

HOME PAGE: http://www.polytechnic.edu.na

University of the Western Cape ( email )

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Economics, Faculty of Economic and Management Scie
Bellville, Western Cape 7535
South Africa
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0027219593201 (Fax)

HOME PAGE: http://www.uwc.ac.za

North-West University ( email )

Hoffman Street
Potchefstroom, 2520
South Africa

HOME PAGE: http://www.nwu.ac.za

Papua New Guinea University of Technology ( email )

Private Mail Bag 411
Lae, Morobe 411
Papua New Guinea

HOME PAGE: http://www.unitech.ac.pg

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