Explain the Reasons Behind Economic Stagnation That Most Sub-Saharan African Countries Experienced During the...

Explain the reasons behind scotch stagnation that nigh sub-Saharan African countries experient during the mid-eighties and 1990s. Is there any narrate of recovery in the last decade? Illustrate your serve up with reference to literature and data relating to one or such(prenominal) sub-Saharan African economies. After initial periods of harvesting, most sub-Saharan African countries were confronted by crisis for almost a decade during the mid-eighties and 1990s. Sub-Saharan African countries experienced a decade of blend in per capita incomes, increasing hunger and accelerating ecological degradation. This condition has therefore top to the government of these countries to undertake reforms (World situate 1989). Weak agricultural egress has been one of the factors that led to the crisis in Sub-Saharan African countries. This toss out in agricultural growth has been caused as a go forth of drought. The rate of population growth in most Sub-Saharan African countries was so high that domestic contract for nourishment could not match the supply, this therefore led to far-flung of hunger, moderate in the exportingation of agricultural produce and the illume of the securities industry share of Africas major export (World Bank 1989). The statistics presented by the World Bank (2010) shows that the total agricultural export of Nigeria dropped from 445515000 to 228226000 from 1981 to 1990, wind to a 49 percent drop in exports epoch the export of other African countries like Niger in any case dropped by 29 percent from 86978000 to 61773000 within the same image of years. Nigeria experienced a period of fossil oil apprehend in the mid-seventies where they depended on petroleum for most of their export earnings. This provided funds for the industrial take-off within the economy. Nigeria was over dependent on petroleum export and the over dependency became apparent in the 1980s when the oil boom of the 1970s turned into the oil doom. These events coupled with the eco! nomic mismanagement led to the national crisis in 1983. However, the failure of...If you penury to get a full essay, vow it on our website: BestEssayCheap.com

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