African Renaissance in the New Millennium? From Anarchy to Emerging Markets?

Abstract

The political economy of Africa is at the crossroads. The centrally controlled economies are giving way to global liberalism. Yet many of the continent\'s economies are still suffering from the residual effects of centralism, while poorly adjusting to the new dispensation. In the meantime, regionalism as a development strategy seems to be getting a new lease of life in the general development discourse in Africa while assuming varying forms. Furthermore, under globalization, Africa maybe on the verge of becoming an important player as an emerging market. Such forms of development are creating a dynamism in the new political economy of the continent, which may drive the African renaissance. (A. J. of Political Science: 2001 5(1): 14-28)