During the process of globalization, most parts of the Third World have seen considerable economic improvement, while Africa stands out as having been left behind. This paper focuses on structural adjustment programs and their dependence for success on politics and institutional characteristics of the countries concerned. One important explanation for the dismal performance of many African countries is the combination of magnification of the effects of economic policy with a lack of willingness or ability on the part of politicians to respect the restrictions imposed on their behavior and policy choices by the liberalized markets. Section 2 discusses economic growth and its determinants in Africa in general, while Section 3 reviews the process of international economic integration in Africa, and Section 4 analyses the political economy of adjustment in Africa. In Section 5 the prerequisites for successful integration into the world market are outlined.
