Countries in this part have followed a markedly different path from state-socialist countries, which are analyzed in Part II. Prior to independence, they were partially integrated into world markets through the self-serving networks of the colonial economy. After independence, the new governments attempted to retain the profitable ventures established by their colonial predecessors, mostly based on agricultural exports and exploitation of natural resources. They preserved private property, a commitment to capitalist production and their integration to world markets. Over time, they sought to diversify their economies, increase their industrial base and exploit new economic advantages that could foster growth and profit.

The contrast between capitalist and state-socialist countries provides a useful comparison of the different regimes and paths of political change in the region. Since a strong postulate in the political science literature links levels of economic development with democracy, these two parts provide a first-level comparison of levels of economic growth and economic development, with their expected impact on the region’s regimes.