Topic > Aid Doesn't Work Summary - 1237

In other countries such as Singapore, Mauritius and Costa Rica “where there is a positive environment, foreign direct investment will flow and contribute to sustainable development” (p.113). But investment in aid-hit African countries is discouraged by a bad reputation that suggests “it is easy for others to steal property, either at gunpoint or through corruption” (p.113). He adds that in order to prepare the situation to encourage investment and assist job aid, African countries need democratic governance, as “a democratic environment can jump-start economic growth” (p.40). African countries would be able to approach double-digit economic growth without aid. The key is neoliberal support for infrastructure conducive to investment, job creation and strengthening the private sector. Moyo suggests a series of unaided solutions in terms of financial development in African countries: reconsidering the international bond market and supporting additional Chinese investment to promote free trade.