POLI 324 Chapter Notes - Chapter 11: Preferential Trading Area, Econometric Model, Indirect Rule
11 Apr 2017
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Poli324 armed insurgencies and civil wars reading notes. Authority, crises of accumulation, governance, and state collapse. Majority of african governments struggling to administer even the most basic functions of a modern state. Authority: psychological relationship between the governed and their governors, which endanger a belief that state personnel and institutions should be obeyed. This surplus capital is invested back into economy to produce further profits. Africa"s economic problems stemmed from the fact that surplus were scarce and productive investments are rare. Capital was wasted because post-colonial state investments were largely founded on erroneous policy choices. Many african governments concentrated too heavily on overambitious import substation. They spent too much revenue expanding institutions of the state. Import substitution became the centrepiece of most african development plans: idea was to diversify economies away from existing primary production. Problem that many of import substitutions projects were inefficient.
