Africa's Third Liberation

Book excerpt: Africa has experienced two liberations: the first from colonial and racist regimes, and the second from the autocrats who often followed foreign rule. African countries now have the potential to undertake a third liberation - from political economies characterised by graft, crony capitalism, rent-seeking, elitism and social inequality. This third liberation will open up the economic space in which business can compete - a necessary condition for expanding employment. During the 2000s, the continent had its best growth decade on record since independence. High commodity prices offer a launch pad for sustained growth and employment creation.Now is the moment for African countries to act. This book asks how Africa's political leaders and interest groups can promote economic growth in their countries. Drawing on studies of countries outside Africa, Jeffrey Herbst and Greg Mills identify the factors separating the performers from the laggards worldwide. Aside from the need to create an enabling environment for business through good governance, provision of infrastructure, and improvements in education, most critical is the need for a laser-like development focus by governments. In Africa's Third Liberation, Jeffrey Herbst and Greg Mills show why a new African political debate is necessary to make progress in accelerating growth and creating jobs.