Capacity Building in Africa : The Role of International Financial Institutions
The note looks at the interrelation of three essential components to economic development: capacity building - the development of skills and institutions; good governance; and, economic reform, the two other components which cannot be implemented w...
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| Format: | Brief |
| Language: | English |
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World Bank, Washington, DC
2012
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| Online Access: | http://documents.worldbank.org/curated/en/2001/12/1660248/capacity-building-africa-role-international-financial-institutions http://hdl.handle.net/10986/9788 |
| Summary: | The note looks at the interrelation of
three essential components to economic development: capacity
building - the development of skills and institutions; good
governance; and, economic reform, the two other components
which cannot be implemented without well-functioning
institutions. It further reviews the rationale and evidence
of institutional capacity building, because it provides the
framework within which people, and firms participate in the
economy. Most importantly, the different specific objectives
of international financial institutions are examined, first
in their support to investments, e.g., infrastructure and
capacity building within an adjustment program; second, in
the achievement of economic and social policy; and, third,
in encouraging economic development, and business practices,
through training, and collaborative efforts. The note
specifically reviews the support provided by the
International Monetary Fund, which includes capacity
building towards enhancing economic expertise, through
technical assistance, and training, and, advisory and
consulting aid. Effective market-supported institutions of
economic management, are indispensable to the economic
development process, thus international financial
institutions need to formulate approaches to capacity building. |
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