World Development Report 1997 - chap 1

19 July 2006
00:24

· Prior to WW2 dev focus on natural resources, then infrastructure, then human capital
· Institutions as well as policies must be strengthened
· Business requires policy consistency and information above all
· And, property protection, which means rule of law and independent judiciary
· Corruption named by 30% of african entrepeneurs as obstacle
· 60% name unstable government
· Initial steps needed for development, like land reform, might be impossible in a democracy, thanks to vested interests
· End of communism allows SA by making conditions politically possible - Soviets can't undercut