Economic Development for Africa South of the Sahara: by E.A.G. (ed.) Robinson

By E.A.G. (ed.) Robinson

Monetary improvement of Africa complaints from a convention.

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Additional info for Economic Development for Africa South of the Sahara: Proceedings of a Conference held by the International Economic Association

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Brief mention must be made of two aspects of education and their significance for development, viz. the extension of education (adult and universal primary education) and the 'deepening' of education (expansion of secondary and higher levels). (a) Extension of Education. While it is desirable to extend universal education to as many people as possible, experience has shown that it is costly and would lay a considerable burden on the resources of these countries. Furthermore, wholesale extension of universal education without a corresponding expansion of employment opportunities can create more problems than it solves.

Js I 21 I as the rate of capital formation rises, as well as an increase in private domestic savings. The relatively high figure for domestic savings in Nigeria is due to high marketing board savings ; it is undoubtedly duplicated in Ghana. The figures for Mexico in 1950 seem rather low in comparison with Congo (Leopoldville}, Kenya, and the Federation, perhaps because Mexico during its 'take-off' had no specially close links with a metropolitan country which could provide the necessary additional financing.

Countries going a little further create special financing institutions offering credit facilities on easier terms, while other countries still have established industrial research institutes, industrial extension services, and industrial estates for large-scale or small-scale industry. The most determined governments actively try to induce foreign firms to establish themselves in the country, offering them all sorts of incentives as well as guarantees regarding re-transfer of profits and the like, participate with private, foreign, or domestic interests in joint enterprises or invest directly in state-owned industries.

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