NEPAD AND THE CAPITAL FLOWS INITIATIVE: CAN AFRICA WALK THE WALK?

In the 1960s and early 1970s the future of Africa looked bright and promising. Economic growth and development on the continent was considerably higher than in other developing regions. However, during the middle 1970s political instability increased and economic development started to deteriorate, both contributing to the marginalization of the continent. The continued marginalization constitutes a serious threat to the participation of Africa in the global economy. Nepad calls for a reversal of this process through a new partnership between Africa and the international community (Nepad, 2001: 1 and 2). Copyright 2005 Economic Society of South Africa.