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Businessafrica.net Newsletter ISSN 1563-4108
Dr. QUENUM & ASSOCIATES
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WHICH ANNUAL GROWTH-RATE?

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LESS THAN 10% ANNUAL GROWTH-RATE?
THAT'S PEANUTS FOR EMERGING COUNTRIES

© Copyright Dr. B.M. QUENUM All rights reserved


This article is the gist of a conference / questions / replies / delivered on December 7, 1996; venue: Infosec, Cotonou, Benin; two days before the opening of the National Conference On The Economic Future Of Benin - December 9 - 16, 1996. On December 9, 1996, Benin' state television evening news' journalist - Mr. Nicaise Miguel- interviewed the author.

SYNOPSIS


It will take us up to several decades - far beyond into the second century of the new millennium - to alleviate prevailing poverty in our countries, create descent living conditions for all, if we do not target double-digit annual economic growth-rate; and manage to sustain it two to three decades running.

I can hear, clear and loud, objections of all kinds streaming into my ears. That's not possible...You are a dreamer...An incurable optimist...

Wait! It is not only possible; it is compulsory to target double-digit growth-rate to quickly bridge the developing gap and integrate African countries into the prosperous circle of developed nations.

We have to undertake a collective brainstorming, explore all ways and means, take all necessary steps, to break up the barrier of 10% annual growth-rate. That's the threshold for the takeoff. Anything below 10% is just survival and stagnation.

Double digit annual economic growth-rate's theory for emerging countries is a well known fact extensively analyzed by Pr. Moses Abramowitz - "Thinking About Growth: Catching Up, Forging Ahead, and Falling Behind" - and confirmed by renowned economists like Jean-Jacques Rosa and Edouard Parker. Let's put it in practice.

This article, a continuation to our previous delivery titled: Strategy for African Countries, is structured into four parts. It adds more arguments to demonstrating why we strongly believe in "The African Renaissance" as here discussed.

1.
WHY WE NEED DOUBLE-DIGIT GROWTH-RATE
Double-digit annual growth-rate is compulsory
2.
DOUBLE-DIGIT GROWTH-RATE IS NOT UTOPIA
The theory does exist! Let's put it in practice.
3.
HOW TO REACH THE TARGET
Click to see how a double-digit annual growth rate is an accelerator of economic development
4.
CASE STUDY ON HOW TO REACH THE TARGET
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