The Economic Growth and Development in Ethiopia series are an attempt to extend and supplement the traditionally available comparative study of economic development across different countries of the world. Historical research has provided us with a great deal of data on economic development and growth throughout the past centuries. However, it has been an acknowledged fact that such information is incomplete and of little use to researchers or students in economic development or economic policy making. This volume is an exhaustive collection of selected empirical studies covering determinants of economic growth and development in Ethiopia, from the Pre-colonial period to the present day. The main focus of this book however, is to offer an up-to -date analysis of the current status and trends of economic development and growth in Ethiopia.
chapters of this book focus on macroeconomic indicators, which take into consideration all of the major economic aspects. These include: (a) macroeconomic data, (b) country-specific data on macroeconomic indicators, (c) the determinants of exchange rates, (d) various international trade and political frameworks and (e) the institutional and legal framework on economic development. While the first three chapters cover broad topics, the last one focuses on the issues of transitional time periods and transitional economic policies. These last two chapters on Ethiopian economic development are important because they help us understand some of the potential pitfalls in the road map to economic modernization. Specifically, we learn that (a) the transition to modernity could be accompanied by political turbulence; (b) that this turbulence might negatively affect investment decisions as well as other key economic decisions; and (c) that the failure of the transitions could lead to a permanent underdevelopment of Ethiopia's economy.
The author rightly emphasizes that there is still much need for research in Ethiopia and that much more needs to be done on the economic development of Ethiopia. Unfortunately, much of what has been done so far is based on qualitative methods that do not offer enough in terms of quantitative analysis. By reading this book, however, one gets a good sense of how crucial a role history plays in economic policymaking. The book thus contains many useful insights on the history of economic policies, the strengths and limitations of such policies and the possibility of creating a stronger economy through better policies.
The book is also accompanied by a companion study, Ethiopia: Growth and Development in Comparative Perspective. In this study, the author distinguishes five groups of comparative societies. These include East Asian tigers, Latin American countries, European Union, South Pacific countries and developing Middle Eastern countries. The study then compares the experiences of these five groups of societies with the current-day economic policies of Ethiopia. The book thus provides a comparative analysis of the strengths and weaknesses of its economic policies.
Finally, this book has another valuable contribution. This study draws upon the work of Amoryllis and Ellwood. Specifically, the author draws upon the research of these two scholars to explore the factors behind the failure of economic growth and development in Ethiopia as well as the factors behind the success of such policies. By doing this, the author not only gains a theoretical understanding of why some economic policies fail but also why some succeed. The author then uses this information to illustrate various case studies on how economic policies affect the development of a country. Finally, . . . . . . the book concludes with some recommendations on how better economic policies can be initiated in Ethiopia.
The key strength of this study is that it pulls together relevant empirical work on economic growth and development in Ethiopia as well as on the performance of economic policies across various societies. Furthermore, it gives an overall analysis of the strengths and shortcomings of the economic policymaking process. All in all, this is an important and useful book for anyone who is studying economic development and policymaking.