Economic Development of Rwanda Paper Example

Introduction

Literature reviews deliver the various scholarly background concerning a given topic whether qualitative or quantitatively. In this case, involving the economic development of Rwanda, various underlying activities influence the different practices covering the issue. However, one of the major activities is the various events surrounding the economic development of Rwanda. In this literary analysis, it looks to answer the following research question.

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Does Rwanda's Economic Development and Poverty Reduction Strategy (EDPRS) have an immediate impact on the economic development of Rwanda?

Literature Review

Over the past few decades, Rwanda has undergone significant industrialization as a result of proper government policies. From the early 21st century, Rwanda has witnessed the economic boom that has boosted the living standards of the people as well as transforming the economy as a whole. However, the historical occurrences regarding the economics of Rwanda are ranged in a different period which relates to the events of the Rwanda genocide. These periods encompass Rwanda before the civil war and genocide, Rwanda after the public and genocide, and present Rwanda. Since this paper is based on Rwanda's economic development, various factors are influencing the overall economic growth. For example, Rwanda economic development and poverty reduction strategy (EDPRS) have delivered profound impacts on the economic development of Rwanda.

According to Noack, he delivers details concerning a fast-forward Rwanda considering the social, economic and reconciliation prospects governing the economy. Noack attempts to explain the framework behind the events of history in Rwanda and how they have helped set the track for the economic development of Rwanda. Moreover, economic expansion is work in progress in Rwanda both in terms of policy and monetary development. By 2020, there is the aspiration by various authorities in Rwanda that it could become a middle-income country. According to a quantitative analysis of livelihood profiles and poverty, Ansoms and McKay state details regarding the poverty reduction policy. They provide that the economic development and poverty reduction strategy entail a set of measure that provides a framework meant to ensure that Rwanda achieves its 2020 aspirations. As the quantitative study researches on the poverty and livelihood profiles, it delivers a conclusion that the agricultural policies of Rwanda should adopt the appropriate interventions for impoverished individual each having their patterns. In as much as there are provisions concerning the poor especially in the rural areas in Rwanda, there are other underlying occurrences based on the livelihood and practices of the people. Thus, through the details and concepts of this article, they assist in answering the question concerning the involvement of (EDPRS) in rendering a significant impact on the economic development of Rwanda.

Correspondingly, Binagwaho et al. talk of the new course taken by the Rwandan government involving a set-in equity-oriented national policy that focuses on the people-centered development. Since the issues concerning poverty reduction and economic growth are interconnected in comparison to the genocide in Rwanda that led to the demise of more than approximately one million people. In writing, the author depicts the lessons learned in the rebuilding of Rwanda especially in consideration to its health sector. As Rwanda looks to provide more quality care and tackle challenges in the delivery of health care, there has been development. As a result, the occurrence signifies on the actual involvement of the healthy growth of the economy of Rwanda. Through this happening, it maintains that the different services offered focusing on the people-centered development and social cohesion play a significant role and impact the economic growth of Rwanda.

Even though Rwanda has been able to undertake significant steps towards economic development after the events of the genocide, different factors are affecting economic growth. For instance, the poverty rate in Rwanda is still high, and the overall gross domestic product is lower than before the genocide. Through this, it means that the different practices of Rwanda's economic development and poverty reduction strategy (EDPRS) have a dominant influence on the economic development of Rwanda. In the positive effect of the EDPRS to the economic development of Rwanda, there are various options that since the relationship between growth and poverty reduction may always be straight forward, there is an involvement of agricultural extension and investment option in the reduction of poverty. If a proper government investment approach is implemented, the 6% GDP target by the Comprehensive Africa Agriculture Development Program (CAADP) is attainable, and the poverty rates could be reduced by approximately 25%. As the rates of poverty reduction and economic development increases, it pushes for the influence on the economic development of Rwanda.

On the other hand, the two significant challenges that power influence the economic development of Rwanda today include reducing poverty. The levels of poverty are high amongst rural households; however, the issue of protection of the ecosystems is another challenge. In the development of Rwanda's economy, creating a connection between the payment for the ecosystems services with the rural households could deliver a dominant contribution to both challenges. In a large section of the writing, the authors attempt to explain the logic behind how the poverty levels are high among the rural households and the different ways through which reducing the rates could have a massive impact to the economic development of Rwanda.

Similarly, in as much as the issue of (EDPRS) is rendering an impact on the economic development of Rwanda, it is critical to consider the children's rights in Rwanda. The progress regarding the children rights is amongst one of the significant occurrences that signify on a countries economic position. In most of the cases, underdeveloped countries tend to impose a great danger to the children which could keep increasing the poverty rates. Currently, the transformation in Rwanda shows the different steps the country is taking after the occurrence of mass violence. The gross domestic product of Rwanda has tripled over the past decade; however, there is an uneven distribution in the country since some regions are facing extreme poverty levels.

Approximately a million Rwanda's have been pulled from poverty between 2005 and 2010. The poverty population line had dropped from 77.8% in 1994 to 44.9% in 2010. Rwanda is the only sub-Saharan Africa country that is still in the path to meet most of the developmental goals by 2015. Hence, this occurrence has depicted a significant involvement of (EDPRS) in the economic development of Rwanda. Also, the writing elaborates on the reduction of premature mortality in Rwanda which can be considered as a reason from the past. In consideration of the impacts delivered by the EDPRS on the economic development of Rwanda, the increase in productivity is one of the significant ways to ensure that the economic growth of the country remains in check. On the other hand, the various goals on healthcare and education have a dominant effect especially in the reduction of the poverty rates. As a result of this, it has imposed a chain of impacts on overall economic development.

Theoretical Framework

In consideration of the conceptual framework concerning various events of economic development in Rwanda, it is essential to understand the different thirties and occurrences involved with the progress. Majorly, these theories are meant to conclude as to where the Rwanda economic development and poverty reduction strategy has an impact on the economic development of Rwanda. Heshmati provides that the different events and strive in the poverty reduction in African countries such as Rwanda has delivered a significant impact on the economic transformation.

Both the monetary and fiscal policies have maintained a proper interaction in the strive to ensure that every framework operates to the success of economic development. As some of the theories deliver, such as the growth theory, investment in human capital, innovations, knowledge, technology, among others are distinct contributors to the economic growth of a country. In the case of Rwanda economic development, the EDPRS is maintaining a proper view on what needs to be done as the various occurrence affect the rates of economic growth in Rwanda.

Bibliography

Abbott, Pamela. "Promoting Children's Rights in Rwanda: Progress under EDPRS1 and Priorities for EDPRS2." (2013).

Andrew, G., and Michel Masozera. "Payment for ecosystem aids and poverty reduction in Rwanda." J Sustain Develop Afr 12 (2010): 122-139.

Ansoms, An, and Andrew McKay. "A quantitative analysis of poverty and livelihood profiles: The case of rural Rwanda." Food Policy 35, no. 6 (2010): 584-598.

Binagwaho, Agnes, and Kirstin W. Scott. "Improving the world's health through the post-2015 development agenda: Perspectives from Rwanda." International journal of health policy and administration 4, no. 4 (2015): 203.

Binagwaho, Agnes, Paul E. Farmer, Sabin Nsanzimana, Corine Karema, Michel Gasana, Jean de Dieu Ngirabega, Fidele Ngabo et al. "Rwanda 20 years on: investing in life." The Lancet 384, no. 9940 (2014): 371-375.

Diao, Xinshen, Shenggen Fan, Sam Kanyarukiga, and Bingxin Yu. Agricultural extension and investment prospects for poverty reduction in Rwanda. Vol. 166. Intl Food Policy Res Inst, 2010.

Farmer, Paul E., Cameron T. Nutt, Claire M. Wagner, Claude Sekabaraga, Tej Nuthulaganti, Jonathan L. Weigel, Didi Bertrand Farmer, et al. "Reduced premature mortality in Rwanda: lessons from success." BMJ 346 (2013): f65.

Heshmati, Almas, ed. Economic transformation for poverty reduction in Africa: A multidimensional approach. Vol. 134. Taylor & Francis, 2017.

Noack, Patrick. Rwanda fast forward: Social, economic, military and reconciliation prospects. Springer, 2012.