This article is the gist of a conference / questions / replies / delivered on
December 7, 1996; venue: Infosec, Cotonou, Benin;
two days before the opening of the National Conference On The Economic Future
Of Benin - December 9 - 16, 1996. On December 9, 1996, Benin' state television
evening news' journalist - Mr. Nicaise Miguel- interviewed the author.
SYNOPSIS
It will
take us up to several decades - far beyond into the second century of the new
millennium - to alleviate prevailing poverty in our countries, create descent
living conditions for all, if we do not target double-digit annual economic growth-rate;
and manage to sustain it two to three decades running.
I can hear, clear
and loud, objections of all kinds streaming into my ears. That's not possible...You
are a dreamer...An incurable optimist...
Wait! It is not only possible;
it is compulsory to target double-digit growth-rate to quickly bridge the developing
gap and integrate African countries into the prosperous circle of developed nations.
We have to undertake a collective brainstorming, explore all ways and
means, take all necessary steps, to break up the barrier of 10% annual growth-rate.
That's the threshold for the takeoff. Anything
below 10% is just survival and stagnation.
Double
digit annual economic growth-rate's theory for emerging countries is a well known
fact extensively analyzed by Pr. Moses Abramowitz - "Thinking
About Growth: Catching Up, Forging Ahead, and Falling Behind" - and
confirmed by renowned economists like Jean-Jacques Rosa and Edouard Parker. Let's
put it in practice.
This article, a continuation to our previous
delivery titled: Strategy for African
Countries, is structured into four parts. It adds more arguments to demonstrating
why we strongly believe in "The African Renaissance" as here
discussed.
1.
WHY
WE NEED DOUBLE-DIGIT GROWTH-RATE
2.
DOUBLE-DIGIT
GROWTH-RATE IS NOT UTOPIA
3.
HOW
TO REACH THE TARGET
4.
CASE STUDY ON HOW TO REACH THE TARGET
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