Resource mobilization for development

To overcome the development and poverty challenges facing SSA, strong and robust growth is widely recognized as a precondition. Many observers (e.g. Blair Commission Report, 2005) target 6-8 per cent of annual growth. It is very difficult to reduce poverty through redistribution alone when average income levels are low, as is the case in SSA, although growing income inequality certainly has not helped. Further, political stability and development prospects decrease with greater economic insecurity (UN 2008). However, there is little evidence that the policies of the three decades have helped the SSA region mobilize resources to finance such growth, to reduce economic insecurity and to generate investment and structural transformation.

Related Subject(s): Economic and Social Development