n AfricaGrowth Agenda - Exploring new scopes of microeconomic policy for change

Volume 2007, Issue 7
  • ISSN : 1811-5187


The microstructural dimension of economic development is taking increasing importance in the current academic and public debate on how to boost economic growth, improve living standards, and fight poverty and inequalities. This is the opposite approach to the macro structural, which over the past decades has dominated social understanding and analysis, mostly led by macroeconomist thinkers and practitioners in the search for economic stabilization and structural adjustment. But it is not longer so. What the public in general has learnt is that macroeconomic understanding and intervention are very important for creating a healthy and stable global economic environment, but they are not sufficient for unleashing sustained economic growth, creating permanent jobs and improving income distribution.

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