The Historical Background and Current Status of Economic Development of African Countries

Abstract

The article is aimed at identifying the historical background and current status of economic development of African countries. It is analyzed how the colonial legacy of European reign affected the post-colonial economic development of the countries of sub-Saharan Africa. Very often the literature discusses the significant differences between Great Britain, France, Belgium and Portugal regarding the respective styles of colonial governance. Some researchers have come to the conclusion that the difference in colonial governance has affected the post-colonial economic and political development of African countries. We affirm that, in general, colonial rule has not created a solid foundation for economic development. However, we agree that the British style of governance has been more effective, as most of the countries formerly under British administration are progressing significantly in comparison with other African countries.

Keywords

• development
• colonial heritage
• colonial style
• institution
• dependency theories