Finance professor studies economic gap between African countries and rest of the world
Although many Americans are very concerned with the internal economic problems plaguing their country, Lemma Senbet, the William E. Mayer chair professor of finance, understands the importance of looking at the growth of the global economy. Senbet has largely focused on the economies in Africa, where most of his recent research has taken place.
"Africa has recently seen rapid growth in their economies, but there is still a developing gap between African countries and the rest of the world," said Senbet.
According to Senbet, this gap partly results from the intrinsic "linkage between public policies and private sectors" and their functional discord. He pointed to the recent U.S. recession as an example.
"Public policy did not match up with the housing market, thus there was a great societal and governmental impact when it failed," said Senbet.
How can the economic growth in African countries affect the U.S.?
"It will add diversification for financers," Senbet said. "Africa adds more choices for investors so that they don't invest only in the U.S. economy. In that way, it will put more money into the African economies, adding to the growth. It will be mutually beneficial."
Get Top Stories Delivered Weekly
From Around the Web
Recent The Munch News Articles
Discuss This Article
GET TOP STORIES DELIVERED WEEKLY
FOLLOW OUR NEWSPAPER
LATEST THE MUNCH NEWS
RECENT THE MUNCH CLASSIFIEDS
FROM AROUND THE WEB
- Carrageenan: Sustainability From Farm to Table
- Guiding Treatment of Advanced Breast Cancer Using Subtypes
- Taking the High Road to Scotland
- Fall Foes: Watch out for These Stinging Insects
- Supporting Arts in Education
- Fishing and Boating are Great Activities for the Entire...
- Don't Get Blindsided by the Sticker Shock of College
- Your Online Reputation: Handle With Care
- For Dwight Clark, the Catch Is Chiropractic Care
- Reducing the Likeliness of Back Surgery With Chiropractic...