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Centrally-Planned Or Developmental-Oriented State: A Review Of The Ethiopian Economic System, Asayehgn Desta
Centrally-Planned Or Developmental-Oriented State: A Review Of The Ethiopian Economic System, Asayehgn Desta
Asayehgn Desta
After adhering to the required draconian conditions laid out by the multi-lateral financial institutions, more than ever the developing borrowing countries were faced with sharply declining living standards, recurring financial crises, rampant inflation and a resulting high rate of unemployment. Then, a number of African countries halfheartedly and with little or no accountability, or transparency, relinquished total responsibility to their governments to manage and direct their economies. While pursuing the command economic system imitated from socialist countries where by the central governments played a pivotal role in planning and programming, Africa faced by ineffective policies, misuse of abundant resources and …