The Global Economic Affairs Think Tank, African Economic Research Consortium (AERC) led by former Central Bank of Kenya Governor Professor Njuguna Ndung’u is currently hosting its 55th Biannual Research Workshop. The Plenary Session held yesterday, marked the beginning of the workshop exploring the theme: Poverty, Growth, Redistribution and Social Inclusion in Times of Covid-19 Pandemic in Africa.
The one-week workshop which also kicked off yesterday, 29th November 2021 has attracted Hundreds of Economic Policy Researchers, Scholars, Public Policymakers, non-state actors and practicing Economists who are currently participating in a Virtual Research Workshop.
Among the key speakers chairing the event is Prof. Nyarko of New York University (NYU). He is one of the most highly ranked African academic economists in the world, also serves as the Director of NYU Africa House, the Center for Technology and Economic Development (CTED), and the DevLab at NYU Abu Dhabi, as well as Co-Director of the Development Research Institute (DRI).
Kenya’s Commission on Revenue Allocation (CRA) Chairperson Dr Jane Kiringai chaired and led a panel discussion session on public/private sector policy featuring distinguished panelists, including distinguished economists, private and public sector leaders from across the continent.
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 (BoT) and renowned African Economist, the late Prof Benno Ndulu, who passed on earlier this year.
Speaking during the opening session, The 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 Covid-19 pandemic impacted times.
“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. On the other hand, income redistribution can lower poverty by reducing inequality if the process follows a good and sustainable process,” said Prof Ndung’u.
He added that “However, it may not accelerate growth in any major way, except perhaps by reducing social tensions arising from inequality. With the advent of Covid-19, the situation could be even worse, but perhaps the lessons learnt can foster a renewed inclination and energy on reforms and structural economic transformation. Poverty, growth, redistribution, and social inclusion in times of the Covid-19 Pandemic in Africa is one area of focus for the AERC capacity building and knowledge framework, which inspired the theme of the 55th Plenary Session of the AERC’s Biannual Research Workshop.”
The Plenary session featured four presentations by distinguished economists. Dr Simone Schotte, UNWIDER, Research Fellow started off the proceedings with a look at “The labor Market Impact of COVID-19 Lockdowns: Evidence from sub-Saharan Africa”. This was followed by the presentation on Poverty, Growth, Redistribution, and Social Inclusion in Times of COVID-19 Pandemic in Africa by Professor Germano Mwabu, University of Nairobi, Kenya. The next presentations featured “COVID-19, Poverty and the Role of Social Protection Systems in Africa” by Dr Kibrom Abay, Country Program Leader and Research Fellow, IFPRI, and finally “The Interaction among Growth, Inequality and Poverty: Implications for Improving Covid-19 Pandemic Outcomes in Sub-Saharan Africa” by Erik Thorbecke, H.E. Babcock Professor of Economics Emeritus, Cornell University.
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.
