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Abstract

SCHOLARLY debates on Structural Adjustment Programs (SAP) have been one of the most contested, in the history of International Economics and Development Assistance Programs, outstandingly on Africa. Most of these debates have been against SAPs following the short term austerity, social crisis and economic stagnation that they precipitated in most African countries; and the context of their implementation. This paper holistically examines the SAPs’ short-term and long-term effects in Africa from liberalist political and socio-economic prism. The liberalisation and market economy principles of SAPs that were in their conditionalities are critically examined as if progressive or not, through a comparison with how most East Asian countries developed through these homologous market economy principles. In addition, this paper looks at the circumstances - state of African economies and political praxis that led to SAPs introduction; as well as an examination of the criticisms against SAPs, such as that of economic imperialism, rapidity, inadequate consultations and contextualisation by some scholars. In furtherance to this, this paper reviews the challenges that SAPs had

About the Author

Chambers Umezulike

Chambers Umezulike

Development Expert, Researcher and Writer. Have a Masters in International Studies, Economic Governance and Development.An author of three books, including: "Leadership, Policy and Economic Development in Nigeria and Singapore; a Comparative (1960 - 1990)," an investigation of factors that necessitated the divergent economic development outcome of Nigeria and Singapore despite that they shared homologous economic statistics in the 60s. Been involved in series of researches on the Themes of International Relations & Development; Regional Integration, Economic Governance, and Africa’s Development Dialectics.

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