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Good Growth and Governance in AfricaRethinking Development Strategies$
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Akbar Noman, Kwesi Botchwey, Howard Stein, and Joseph E. Stiglitz

Print publication date: 2011

Print ISBN-13: 9780199698561

Published to Oxford Scholarship Online: May 2012

DOI: 10.1093/acprof:oso/9780199698561.001.0001

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PRINTED FROM OXFORD SCHOLARSHIP ONLINE (oxford.universitypressscholarship.com). (c) Copyright Oxford University Press, 2021. All Rights Reserved. An individual user may print out a PDF of a single chapter of a monograph in OSO for personal use. date: 22 January 2022

Issues in Africa's Industrial Policy Process

Issues in Africa's Industrial Policy Process

Chapter:
(p.372) 13 Issues in Africa's Industrial Policy Process
Source:
Good Growth and Governance in Africa
Author(s):

Matsuo Watanabe

Atsushi Hanatani

Publisher:
Oxford University Press
DOI:10.1093/acprof:oso/9780199698561.003.0013

This article explores the possibility of industrial policy in Africa based on Asia's experience from the 1970s onwards. African economies have seen a good performance in recent years. The growth pattern, however, remains largely dependent on world commodity prices. For the economies to realize a sustainable growth, the structure has to be diversified and upgraded. In this context, government-led industrialization can be an effective means for latecomers where markets are imperfect and risks are high for nascent private enterprises, despite persistent skeptical views on the governments’ insufficient capacity, rent-seeking, and corruption. It is certainly ridiculous to simply transplant the Asian experience to Africa because of the differences in international/domestic political, economic, geographic, and social conditions. Donors may want to acknowledge the diverse national contexts and to encourage Africa's trial-and-error approach and closer collaboration between public and private sectors, rather than to lay down “best practices.”

Keywords:   Africa, industrial policy, Asian experience, national context, trial-and-error, policy space, public–private partnership

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