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Economic Development in Africa Report 2011

Fostering Industrial Development in Africa in the New Global Environment

image of Economic Development in Africa Report 2011

This publication examines the status of industrial development in Africa with a focus on the identification of stylized facts associated with African manufacturing. It provides an analysis of past attempts at promoting industrial development in the region and the lessons learned from these experiences. It offers policy recommendations on how to foster industrial development in Africa in the new global environment characterized by changing international trade rules, growing influence of industrial powers from the South, the internationalization of production, and increasing concerns about climate change. Finally, it argues that a new industrial policy is needed to induce structural transformation and engender development in African economies.

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Towards a new industrrial policy in Africa: Industrial diagnosis and strategy design

The analysis of Africa’s industrial performance in the previous chapters suggests that most countries in the region are still struggling to develop a competitive manufacturing sector. But there is at the same time a growing consensus that African countries have to diversify their production and export patterns to reduce vulnerability to shocks, to boost growth, to provide employment opportunities and to enhance their integration into the global economy. Against this background, there is an increasing interest amongst African policymakers in the potential role of industrial policy in the region. But at the same time they are searching for a new approach which does not repeat the mistakes of the past. The rest of this Report discusses key elements of new industrial policy in Africa.

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