DEV STD C10 Lecture Notes - Lecture 17: Ethnic Democracy, Boko Haram, Rent-Seeking
17 Mar 2017
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Document Summary
In the rest of the world primary commodities became not as much and more industrialization but this was not the case with africa. Oil prices went up in 70s people who import oil needed loans austerity measures and structural adjustment. Africa"s lost decade: early 1980s massive debt crisis world commodity prices crashed. Lots of countries were in negative numbers. While china and other"s share was expanding in the 80s, africa"s was crashing. Declines in fertility like single child policy, but not in africa. Youth dividend: lots of young people, this could be good but they have to be employed, no job creation. Most populous, largest economy, major oil producer, possible bric, high gdp growth over the last decade, multi ethnic democracy . Bottom billion is resource dependent/primary commodities due to colonialism, these economies have certain qualities. Post colonial turmoil: the biafran war 1967 to 1970. War was the third birth of humanitarian internationalism.
