Person:

Werker, Eric David

We discuss the birth of a new economy in a society that has only recently emerged from a 22-year-long civil war. The pace of growth so far has been fast but uneven. We find that aid and oil money are flowing rapidly into certain sectors, while other employment-generating areas of the economy, particularly agriculture, have barely changed their centuries-old ways. As a result, the recent windfall of wealth has yet to translate into tangible development benefits for the majority of the population. In order to achieve growth in these other sectors, there is a need for more innovation in both government policy and business strategy.