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NEPAD: The Need and Obstacles
Author(s) -
Ilorah Richard
Publication year - 2004
Publication title -
african development review
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.654
H-Index - 32
eISSN - 1467-8268
pISSN - 1017-6772
DOI - 10.1111/j.1017-6772.2004.00090.x
Subject(s) - multinational corporation , general partnership , constraint (computer aided design) , earnings , politics , economics , budget constraint , business , development economics , international trade , finance , political science , engineering , mechanical engineering , neoclassical economics , law
Africa performs poorly in the global economy. The continent lacks investments, jobs, real output, and basic social services. Aggravating the poor performance is poor management. This paper argues that the establishment of the New Partnership for Africa's Development (NEPAD) to grapple with Africa's economic problems makes sense but only if necessary policies are properly implemented. It argues that Africa should pursue interest politics through NEPAD as an economic integration. On the issue of financing the budget, which has in the past been a major constraint to OAU‐initiated projects, this paper strongly recommends that it should be made mandatory that all multinational companies operating in all NEPAD member countries pay a certain percentage of their earnings into the NEPAD budget.