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CGD in the News

Africa's Capitalist Revolution (Foreign Affairs Magazine)

July 1, 2009

Foreign Affairs Magazine publishes CGD visiting fellow Ethan Kapstein's article on capitalism in Africa which cites CGD's book, Africa's Private Sector.

From the article:

"In one of the great ironies of history, Africa may well emerge from the current global recession as the only region in the world that remains committed to global capitalism. While the tired industrialized nations of the West are nationalizing their banks and engaging in various forms of protectionism, Africa remains open for business—promoting trade, foreign direct investment, and domestic entrepreneurship. Analysts in the industrialized countries are concerned that foreign aid flows to Africa might drop because of the recession, but Africans themselves are much more worried about rising barriers to their exports and diminishing private investment from abroad, which could impede the continuation of the impressive economic progress the continent has made over the past decade."

Read the article (subscription required)