ABSTRACT
During recent decades both Latin America and Africa had to cope with eco nomic crisis. As a result, countries in both continents have had to implement major policy changes in the light of the economic experience of the past few decades. The situation in Africa in general has been worse than in Latin America, partly because the African economies were generally found on a lower level of production and income per capita, which means that the con sequences of making serious policy mistakes was potentially more serious.
