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Africa’s next debt crisis: regulatory dilemmas and radical insights

Africa’s next debt crisis: regulatory dilemmas and radical insights A new African debt crisis appears imminent, which will have new features because several countries have recently introduced international sovereign bonds. Organisations such as the World Bank and the African Development Bank increasingly acknowledge the risk of such a crisis, but continue to prescribe debt-management strategies based on liberalisation and government spending cuts. Insights drawn from liberals favouring government regulation identify an alternative policy direction, while Marxist scholars raise serious concerns about the merits and implications of the bonds altogether. These alternative approaches have the potential to enrich inter-governmental policy discussions and potentially avert the looming new African debt crisis. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Review of African Political Economy Taylor & Francis

Africa’s next debt crisis: regulatory dilemmas and radical insights

Review of African Political Economy , Volume 44 (154): 18 – Oct 2, 2017

Africa’s next debt crisis: regulatory dilemmas and radical insights

Review of African Political Economy , Volume 44 (154): 18 – Oct 2, 2017

Abstract

A new African debt crisis appears imminent, which will have new features because several countries have recently introduced international sovereign bonds. Organisations such as the World Bank and the African Development Bank increasingly acknowledge the risk of such a crisis, but continue to prescribe debt-management strategies based on liberalisation and government spending cuts. Insights drawn from liberals favouring government regulation identify an alternative policy direction, while Marxist scholars raise serious concerns about the merits and implications of the bonds altogether. These alternative approaches have the potential to enrich inter-governmental policy discussions and potentially avert the looming new African debt crisis.

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References (67)

Publisher
Taylor & Francis
Copyright
© 2017 ROAPE Publications Ltd
ISSN
1740-1720
eISSN
0305-6244
DOI
10.1080/03056244.2017.1313730
Publisher site
See Article on Publisher Site

Abstract

A new African debt crisis appears imminent, which will have new features because several countries have recently introduced international sovereign bonds. Organisations such as the World Bank and the African Development Bank increasingly acknowledge the risk of such a crisis, but continue to prescribe debt-management strategies based on liberalisation and government spending cuts. Insights drawn from liberals favouring government regulation identify an alternative policy direction, while Marxist scholars raise serious concerns about the merits and implications of the bonds altogether. These alternative approaches have the potential to enrich inter-governmental policy discussions and potentially avert the looming new African debt crisis.

Journal

Review of African Political EconomyTaylor & Francis

Published: Oct 2, 2017

Keywords: African economies; debt; Eurobonds; financial capital; economic regulation; Économies africaines ; dette ; Eurobonds ; capital financier ; regulation économique

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