This paper investigates the persistent underdevelopment in Africa despite post-colonial advancements. Using a new metric, Revealed Comparative Wealth (RCW), the study reveals a global economic hierarchy where many African countries occupy inferior positions, negatively correlated with advanced economies. Analysis suggests that this underdevelopment stems from Africa's position at the bottom of global value chains, primarily supplying raw materials. Colonialism and neo-colonialism are identified as contributing factors. The paper proposes that diversifying economic activities, fostering creativity, accumulating capital (wisely utilizing foreign investment), and securing better profit allocation in foreign collaborations are crucial for unlocking Africa's development potential.

Fanglei Wang, Jianbo Gao, Feiyan Liu