Mali Economic Development - Research Proposal Example

Download file to see previous pages In 2005, Mali returned to a robust and good growth rate of 5.5 % after being characterized by a poor 2.2 % in its previous year. Cotton production in Mali involves around 3.3 million people and close to 200000 families farms hence accounting for about 10 percent of the Malian GDP. When compared to 2004, cotton production in 2005 improved greatly due to well distributed and adequate rainfall. Since the Mali government acknowledges the importance and significance of the cotton sector, it has organized it in an integrated format managed by the Compagnie Malienne pour le Développement du Textile. CMDT is tasked with regualtiong and managing the whole chain of cotton production. Additionally, it is mandated with the development of rural areas via the provision of the necessary infrastructure such as a road network some areas like Segou, Kayes and Koulikoro.
In general, Mali’s agricultural sector is characterized by low productivity due to lack of a specialized labor force. In light of this, it is clear that human capital has a significant impact on a country’s economic development. Human capital is often made up of education and health of the people. A human welfare index which incorporates education shows that Mali has a very low rate of school enrollment rates when compared to the rest of sub Saharan Africa. As such, Mali’s economic development over the years lags behind in comparison to most sub Saharan states. Thus, Mali’s failure to possess enough human capital is a challenge and hinders its economic development. ...Download file to see next pagesRead More