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Economic Report on Africa 2014

Dynamic Industrial Policy in Africa

image of Economic Report on Africa 2014
For millions of Africans, growth is yet to translate into jobs and better living conditions. Africa’s largely commodity- driven growth has not been matched by the much needed structural change that can lead to economic transformation, employment, and reduced poverty. Market failures necessitate industrial policy interventions. Yet, in the absence of the right processes and institutions, good industrial policies will fail. Indeed, weak institutions and poor policy design have hindered industrial policy. This report gives a framework for getting the policy process right to foster industrialization. It uses 11 country case studies to assess the critical ingredients for spurring industrialization – innovative institutions, effective processes and flexible mechanisms – and structural transformation.

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Acknowledgments

The Economic Report on Africa 2014, a joint publication of the United Nations Economic Commission for Africa (ECA) and the African Union Commission (AUC), was prepared under the leadership of Carlos Lopes, ECA’s Executive Secretary, and Nkosazana Dlamini-Zuma, Chairperson of AUC, with the active involvement of Abdalla Hamdok, Deputy Executive Secretary of ECA, and Anthony Mothae Maruping, Commissioner for Economic Affairs, AUC. The report team benefited from the guidance and supervision of Adam Elhiraika, Director of Macroeconomic Policy Division, ECA, and René N’Guettia Kouassi, Director of the Economic Affairs Department, AUC.

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