Five Decads Stunck in Underdevlopment: Why Angola ContinuePoor?

Abstract

After five decades, Angola has proven incapable of breaking out of its cycle of underdevelopment. In this approach, I seek to highlight some evidence that contributes to the failure of the Angolan economy to prosper. Much of this evidence points to the strong contribution of political, administrative, and fiscal centralization to high levels of multidimensional poverty. The past five decades have promoted vicious circles that have contributed to the ability to generate wealth on a private basis. On the other hand, the significantly exclusive institutions that exist have led the economy to stagnation with a strong dependence on international markets, whose economy, lacking the capacity for transformation, has become an economy of expectations based on these markets in particular. On the other hand, the inability to govern naturally reveals the main driver of stagnation in marked underdevelopment, being strongly associated with the inability to generate wealth for the majority.