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AEC 2008 - Civil War and Post-Conflict Physical Capital Reconstruction in Africa
Africa’s image as a war-prone region with bleak economic prospects is changing. Most of the conflicts that raged in the 1980s and 1990s have ended. For the first time in 50 years, there are currently more cases of post-conflict than conflict countries. Thus, instead of focusing on conflict resolution, it is time that more attention is given to post-conflict reconstruction, understood in terms of physical and non-physical capital accumulation. Domestic savings, fiscal revenue, foreign aid and capital flight repatriation are important funding modalities of reconstruction. Therefore, one of the priorities of post-conflict reconstruction must be to put in place the necessary institutional and physical infrastructure to rebuild the financial systems, limit capital flight and foster capital repatriation, and adopt policies that encourage the donor community to provide and sustain large amounts of aid – the main source of funding of the reconstruction process in the short to medium term following a civil war.