Ethiopia, a country that has been growing at a rate of about 10 per cent for a decade, is moving a lot of pieces in the right direction, says Tyler Cowen, a Bloomberg Opinion columnist.
Tyler Cowen, who is a professor of economics at George Mason University, in a Bloomberg article on which he highlighted regions of the world on which the world will likely focus in 2019, stated Ethiopia may pave the way for other sub-Saharan economies as itself moves up to middle class status.
Ethiopia is spending more on infrastructure and receiving more foreign investment in manufacturing, points which the Bloomberg article mentioned as indicative of factors that might enable Ethiopia to be a viable model for African development. Moreover, Mr. Cowen detailed, Ethiopia has lifted its internet regulation, made peace with neighboring Eritrea [and considering using Eritrean ports for business], instituted market-oriented reforms, and has expressed decision to sell off parts of its mega companies that are government-owned.
Mr. Cowen, who said he has traveled to Ethiopia twice in the last year, stated he is, all in all, optimistic about the country's future endeavors, which is home for over a hundred million people.
Professor Tyler Cowen is a Bloomberg Opinion columnist, who also writes for the Marginal Revolution blog. His books include “Create Your Own Economy: The Path to Prosperity in a Disordered World” and "The Great Stagnation."