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Tanzania: The Path to Prosperity

On the 19th of September the Bank of Tanzania (BoT) and the International Growth Centre (IGC) will launch a new book Tanzania: the Path to Prosperity, edited by Governor of the BoTBennoNdulu and top IGC and University of Oxford economists Sir Paul Collier and Professor Christopher Adam, at a seminar in the Bank of Tanzania conference in Dar es Salaam. The chapter authors will briefly summarise the content of their work with discussion focusing on the key issues for policymakers, academics, and other stakeholders to be aware of.

The book spans a wide range of economic policy issues likely to confront Tanzania over the coming decade. The unifying idea turns on the core tenet that prosperity builds on productivity and productivity depends on the emergence of effective organisations. These organisations need to be capable of managing increasingly complex processes of production, trade and distribution in the market economy and, through effective bureaucracies and public policy, they need to be capable of coordinating public sector inputs into these processes.
The papers in this new volume approach this ‘organisational shortage’ diagnosis from a range of perspectives. The authors identify the big strategic challenges facing Tanzanian policymakers over the coming decades. This is prefaced by an elegant economic history by Governor BennoNduluthat traces the evolution of economic thinking on growth and development across the country’s first four presidencies. In this way, the papers set out an ambitious agenda for the country over the coming decades.  
At the heart of this agenda are a cluster of issues concerned with the deep structural determinants of growth and prosperity:
  1. the management of offshore natural gas reserves;
  2. the opportunities for processes of urbanisation to alter the fundamental organisation of production and consumption;
  3. how infrastructure and logistics need to be structured to support a modern and urbanising economy;
  4. how the development of effective rural-urban linksis essential to supporting the rapid expansion of an increasingly affluent urban population;
  5. job creation, income and poverty;
  6. andthe implications for macroeconomic agencies.
At the event these topic will be discussed in greater detail, and copies of the book will be available for attendees.

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