Overview
- Compares economic development in Africa and Western Europe throughout medieval and modern history
- Looks at colonisation as an instrument of wealth creation and economic development in Western European countries
- Demonstrates the importance of research and development and innovation and technological development as key drivers
- Suggests how countries like South Africa can break out of the low economic growth trap
Part of the book series: Palgrave Studies in Economic History (PEHS)
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About this book
This book uses lessons from history to help African countries take charge of their own economic development agenda. History is an important part of Africa’s economic development narrative, and Ocran investigates how the development outcomes between Africa and Western Europe became so divergent when in the early medieval period average income levels and economic development in the two regions differed only marginally. The sixteenth century marked a turning point, with the emergence of Western European mercantilism and capitalism and their associated exploitation of other countries. In understanding Africa’s economic development, it is crucial to recognise that Africa has not always been poor.
Examining 400 years of enslavement and colonisation, this book takes us to present day Africa and economic issues affecting the continent. With selected case studies from Hong Kong, Taiwan, and Singapore to South Korea and China, Ocran proposes ways to break out of the economic development quandary Africa currently faces.Similar content being viewed by others
Keywords
- Economic development in the twenty-first century
- African economic history
- African economic development
- Colonisation
- Mercantilism
- Primary Commodities
- R&D in Africa
- Emaciation of African Economies
- Atlantic Slave Trade
- Commodity Driven Growth
- Low Growth Trap
- Economic Governance in Africa
- Post-independence Economic Collapse
- Medieval African economies
- Medieval European economies
- Economic Growth in Sub Saharan Africa
- Wealth creation
- Technological development
Table of contents (10 chapters)
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Front Matter
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General Background and Governing Issues
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Front Matter
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European Growth and Development That Shaped Africa
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Front Matter
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African Experience in the Long Run
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Front Matter
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Back Matter
Authors and Affiliations
About the author
Matthew Kofi Ocran is Professor of Economics and Deputy Dean of Academic Affairs at the Faculty of Economics and Management Sciences, University of the Western Cape, South Africa. His current research interests lie in macroeconomics, development economics, development finance and economic history.
Bibliographic Information
Book Title: Economic Development in the Twenty-first Century
Book Subtitle: Lessons for Africa Throughout History
Authors: Matthew Kofi Ocran
Series Title: Palgrave Studies in Economic History
DOI: https://doi.org/10.1007/978-3-030-10770-3
Publisher: Palgrave Macmillan Cham
eBook Packages: Economics and Finance, Economics and Finance (R0)
Copyright Information: The Editor(s) (if applicable) and The Author(s) 2019
Hardcover ISBN: 978-3-030-10769-7Published: 08 May 2019
eBook ISBN: 978-3-030-10770-3Published: 27 April 2019
Series ISSN: 2662-6497
Series E-ISSN: 2662-6500
Edition Number: 1
Number of Pages: XVI, 412
Number of Illustrations: 1 b/w illustrations, 26 illustrations in colour
Topics: African Economics, Economic History, Development Economics, R & D/Technology Policy, Economic Growth