GLOBAL THINK TANK AERC HOSTS 55TH BIANNUAL PLENARY SESSION

A leading global economic affairs think tank, African Economic Research Consortium (AERC) led by former Central Bank of Kenya Governor Professor Njuguna Ndung’u is hosting its 55th biannual research workshop.   One of the plenary sessions marking the beginning of the workshop explored the theme:  ‘Poverty, growth, redistribution and social inclusion in times of Covid-19 pandemic in Africa.’  The workshop has attracted hundreds of economic policy, researchers, scholars, public policymakers, non-state actors and practising economists.

Among the key speakers in this workshop is Prof. Nyarko of New York University (NYU). He is one of the most highly ranked African academic economists in the world and also serves as the director of NYU Africa House, the Centre for Technology and Economic Development (CTED) and  the DevLab at NYU Abu Dhabi. Additionally, he is   the Co-Director of the Development Research Institute (DRI).

Commitment

Dr. Jane Kiringai, Kenya’s Commission on Revenue Allocation (CRA) Chairperson, chaired a panel discussion session on public and private sector policy featuring distinguished economists as well as private and public sector leaders from across the continent.  On the other hand, British economist and political scientist, Professor James Robinson, of the University of Chicago delivered a memorial lecture on “Africa’s Latent Assets” in honour of the former Governor of the Bank of Tanzania and renowned African Economist, the late Prof Benno Ndulu, who passed on earlier this year.

Speaking during the opening session,  AERC Executive Director Prof. Ndung’u said : “This plenary session demonstrates AERC’s continued commitment to provide a range of policy solutions to the devastating impact of the Covid-19 pandemic through sustained engagement with policymakers, researchers and practitioners.”

On the question of inequality as a barrier to economic and social growth, Prof Ndung’u noted that delegates attending the conference explored the question of whether or not inequalities pose a major obstacle to raising and sustaining a growth trajectory that will be instrumental to eradicating poverty in the prevailing times due to the Covid-19 pandemic. “In both cases, the redistribution of income might achieve not only greater equality, but also faster growth. We all know that poverty can dampen growth when market imperfections combine with other economic factors,” said Prof. Ndung’u.  “On the other hand, income redistribution can lower poverty by reducing inequality if the process follows a good and sustainable process,” he added.

The plenary session featured four presentations by distinguished economists. Dr Simone Schotte, UNWIDER, research fellow started off the proceedings with a look at:  “The labour market Impact of Covid-19 lockdowns: evidence from sub-Saharan Africa”. This was followed by a presentation on:   “Poverty, growth, redistribution and social inclusion in times of Covid-19 pandemic in Africa by Professor Germano Mwabu from the University of Nairobi. The next presentation focused on: “Covid-19, poverty and the role of social protection systems in Africa” by Dr Kibrom Abay, Country Programme Leader and research fellow. 

AERC’s Biannual plenary attracts hundreds of researchers, academics, policy makers, non-state actors and economists, providing a forum for participants to interact with a worldwide network of professionals to discuss issues relevant to Africa’s economic development. The plenary  also provides  an opportunity for monitoring the progress and quality of various research projects sponsored by AERC, in line with  the   organization’s  mandate – to strengthen local capacity for conducting independent  and  rigorous inquiry into problems facing the management of economies in sub-Saharan Africa.