WORKING PAPER SERIES NO 1471 / SEPTEMBER 2012: FEEDBACK TO THE ECB’S MONETARY ANALYSIS THE BANK OF RUSSIA’S EXPERIENCE WITH SOME KEY TOOLS

In most of Africa, area expansion has been based on smallholder agriculture in the context of population growth. 2 While countries on the continent range from very land scarce (such as Malawi and Rwanda) to relatively land abundant (such as the Democratic Republic of Congo, Tanzania, and Zambia), large-scale investment has been limited. A key reason for this was that policy distortions against agriculture, especially exports and low public investment in rural areas, have reduced investment incentives, thus limiting the development of Africa’s agricultural potential. Elimination of many of these policy interventions over the past two decades has allowed agricultural growth to accelerate and paved the way for renewed investor...