The deterioration in Africa's economic development crisis was precipitated by the 1973-1974 oil shock. Other factors include the recurrent increase in oil prices in 1979-1980 after the Iranian revolution. Stagnation of industrialized countries resulted, reducing their imports from African nations. There were also higher prices for the imports that are necessary for the survival of developing countries. Other factors are lower Third World commodities prices, the scarcity of technology, and the need for large loans to fund development projects.
Still other major causes for Africa's economic deterioration include the government's domestic policy shortcomings and the lack of many high-quality leaders in top position. At the same time, the African economies are hurt by a worsening international economic environment and problems integrating into the world economy. One should not overlook the effects of devastating weather patterns and environmental degradation.
The 1980-1982 world recession compounded the crisis for Africa, where the effect was more strongly felt than in any other region of the world. Many parts of the globe experienced a reversal of the recessionary trends beginning in 1983; but this recovery was not general. World recession had a more negative impact on Africa, because of the historically weak base of Africa's economy and its weak position in international trade as a supplier of primarily raw materials. A fall in world market shares for most cash crops and minerals started in the 1970s and continued into 1986. This led to overall declines of Africa's export earnings. Given the low level to begin with, decreases in output and employment caused great hardships. There was less industrial development, less food production and consumption.
One analysis of the situation is contained in Accelerated Development in Sub-Saharan Africa: Agenda for Action, which was issued by the World Bank in 1981. This study emphasized internal political and economic problems. It