Industrial Policy and Economic Transformation in Africa
The revival of economic growth in Sub-Saharan Africa is all the more welcome for having followed one of the worst economic disasters since the industrial revolution. Six of the world's fastest growing economies in the 2000s were African. But with the exception of Ethiopia and Rwanda, the growth of these African nations was largely fueled by discoveries and the rising price of oil. Deindustrialization has yet to be reversed and structural transformation remains limited. This book explores the vital role that industrial policies can play in bringing about a transformation of African economies. Such policies pertain not just to industry. They traverse all economic sectors, including finance, information technology, and agriculture. More accurately understood as a package of learning, industrial, and technology (LIT) policies, they aim to bring vigorous and lasting growth to the region. This collection features case studies of LIT policies in action in many parts of the world, examining their risks and rewards and what they mean for Sub-Saharan Africa.
- 2015 Columbia University Press
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