From Bad Policy to Chaos in Somalia: How an Economy Fell Apart / Edition 1

by Jamil Mubarak

Overview

This examination of the economic policies of Somalia since 1970 is empirical in nature, employing political and economic analysis, economic theory, and econometric techniques, and argues that the governmental economic policy, policy responses to crises, and exogenous shocks have been bad for the long-term economic growth of the country. Despite significant foreign financed public investment, economic growth has been weak and real per capita income has declined. The intensifying economic crises contributed to the rapid deterioration of the political situation that led to the collapse of the Somali state in 1991. Since 1991, chaos and more destruction has followed as warlords scrambled for power, resulting in the resource base of the economy being eroded further and the country being reduced to warring clans.

Product Details

ISBN-13:	9780275954864
Publisher:	Bloomsbury Academic
Publication date:	06/18/1996
Series:	Bibliographies of Battles and
Edition description:	New Edition
Pages:	200
Product dimensions:	6.00(w) x 9.00(h) x 0.62(d)

About the Author

JAMIL ABDALLA MUBARAK is a citizen of Somalia who holds an advanced degree from Johns Hopkins University. Dr. Mubarak has lectured at the Somali National University and has served as a consultant to the World Bank.

Table of Contents

Tables and Figures
Preface
Abbreviations
Introduction
Economics and Politics in Somalia: A Background
Improper Policy Responses to Exogenous Shocks
The Socialist Development Strategy to the 1970s: The Principal Origin of the Crises
Macroeconomic Consequences of Unsustainable Public Sector Deficits
Ambitious Public Investment and Illusive Economic Growth Objective
Private Savings and Investment in an Inhospitable Environment
The Depressing Effects of Economic Policies on Trade
Resilience Amid Chaos: The Somali Economy After the State Collapsed
How the Economy Fell Apart and What We Have Learned
Selected Bibliography
Index

Editorial Reviews

Somali-born, Johns-Hopkins-educated economist Mubarak argues that specific policies of General Mohamed Siad Barre while he ruled Somalia 1970-90 were responsible not only for the collapse of his regime but also for the scramble of rival warlords that have characterized the politics and economy since then. Among the aspects he focuses on are improper policy responses to exogenous shocks, ambitious public investment and illusive economic growth objectives, and private savings and investment in an inhospitable environment. Annotation c. Book News, Inc., Portland, OR (booknews.com)

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