Policy and institutional dimensions of africa’s political economy in an age of globalization

The advent of political independence allowed most Sub-Saharan countries to determine the appropriate mix of policies and institutions that would enable them to achieve rapid socioeconomic development. But experiences across the continent have so far yielded mixed results, and the search for an effective political economy model in the face of a rapidly globalizing world remains an ongoing challenge for most countries. In this study, we ask why some developing countries seem to be growing much faster and have much better socioeconomic performance than others. Indeed, what macroeconomic policies and institutions should Sub-Saharan countries pursue to enable more sustainable, lasting, and inclusive growth while dealing with the challenges that a rapidly changing political and economic world order present? The study’s main intention was to generate knowledge to enhance the efficacy of Africa’s political economy and development pathways by identifying alternative macroeconomic policy and institutional options that can be deployed to enable deeper socioeconomic transformation.