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Publication date: 1 October 2011

Kobena Hanson, George Kararach, Frannie A. Léautier and Robert Nantchouang

Animal spirits in modern economics has a specific meaning; it refers to the restless and inconsistent element in the economy as well as the peculiar relationship people have with…

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Abstract

Animal spirits in modern economics has a specific meaning; it refers to the restless and inconsistent element in the economy as well as the peculiar relationship people have with ambiguity and uncertainty, which tends to lead to paralysis or incredible confidence and energy in decision‐making and risk taking. Animal spirits have also been used to explain peaceful periods and instability or interpret track records of success and periods of disarray or spectacular failure, high levels of trust and confidence or extreme pessimism and distrust. Willingness to undertake extreme effort or self‐sacrifice to get things done is another expression of animal spirits, which can again go in the opposite direction with people shirking responsibilities, and practicing generalized selfishness or individualism. Such behaviours can have visible effects on the performance of public agencies or civil service agencies, in the behaviour of leaders in the public or private sector, or in the economic performance of a country. Differences across agencies and countries over time can also be explained if one is able to distinguish the effect of animal spirits. Using a logistic model, this paper tests for the existence of “animal spirits” in the capacity development interventions spearheaded by the African Capacity Building Foundation (ACBF)‐funded institutions. The analysis and findings highlight, amongst others, the importance of non‐economic factors in shaping the capacity development sphere. Understanding this nature of animal spirits is critical to designing and implementing effective programs for capacity development in Africa. It is particularly important to focus on issues of leadership and leadership development, including the capacity for leaders to instil confidence and piece together stories that motivate people into a common vision of the future or to achieve common objectives.

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World Journal of Entrepreneurship, Management and Sustainable Development, vol. 7 no. 2/3/4
Type: Research Article
ISSN: 2042-5961

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Article
Publication date: 1 October 2011

Allam Ahmed and Kobena T. Hanson

There is now real optimism of the prospects of Africa reclaiming the 21st century given its recent sterling growth performance and the number of successful reforms undertaken…

837

Abstract

There is now real optimism of the prospects of Africa reclaiming the 21st century given its recent sterling growth performance and the number of successful reforms undertaken. There have been considerable and noticeable efforts to invest in innovation, infrastructure, integration, institutions and a revamp of incentive systems to develop new values that allow for transparency, accountability and greater social inclusion. New forms of leaderships have emerged at various social levels and institutions to drive a development agenda based on peer‐learning and knowledge‐sharing. Africa, in so doing, is unearthing deep skills and the reaping low‐hanging fruits needed to speed its ambitions to attain the Millennium Development Goals (MDGs) and sustainable development. This broad development agenda has required Africa to adopt strategic and practical solutions to the development challenges it faces. This volume interrogates a number of issues that are crucial for the attainment of sustainable development in Africa: a responsive governance framework, the demographic transition and youth bulge, conflict and related dynamics – such as disarmament and demobilisation, capacity building in post‐conflict and fragile states, the role of donors in enhancing (or otherwise) local development efforts, the need to understand the “softer‐side” of capacity development; and above all the role of savvy and strategic leadership. Understanding these issues and beyond, by organizations like the African Capacity Building Foundation (ACBF), will determine whether Africa will achieve its development ambitions in the very near future.

Details

World Journal of Entrepreneurship, Management and Sustainable Development, vol. 7 no. 2/3/4
Type: Research Article
ISSN: 2042-5961

Keywords

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