The Practice of Industrial Policy Lessons for Africa: Co-Ordination Through an Asian Lens

32 Pages Posted: 5 Feb 2015

See all articles by Justin Y. Lin

Justin Y. Lin

Peking University - China Center for Economic Research

Vu Ming M. Khuong

National University of Singapore (NUS) - Lee Kuan Yew School of Public Policy

Date Written: December 31, 2014

Abstract

African countries are facing great opportunities but also formidable challenges in accelerating economic growth and sustaining a high level of economic performance. The experiences of East Asian countries may offer valuable insights for African leaders and governments in making concerted efforts to formulate and implement effective industrial policy for dynamic structural transformation and inclusive growth. To this end, this paper presents useful lessons from selected East Asian countries, organized into five strategic dimensions in an “ASIAN” framework: (i) Aspiration; (ii) Strategy; (iii) Implementation; (iv) Acquisition of knowledge; and (v) Nurture of human capital formation.

Keywords: New structural economics, industrial policy, strategy, Asia, Africa

JEL Classification: O10, O25, O53, O55, O57

Suggested Citation

Lin, Justin Yifu and Khuong, Vu Ming M., The Practice of Industrial Policy Lessons for Africa: Co-Ordination Through an Asian Lens (December 31, 2014). Lee Kuan Yew School of Public Policy Research Paper No. 15-14, Available at SSRN: https://ssrn.com/abstract=2560700 or http://dx.doi.org/10.2139/ssrn.2560700

Justin Yifu Lin

Peking University - China Center for Economic Research ( email )

No. 38 Xueyuan Road
Haidian District
Beijing, Beijing 100871
China

Vu Ming M. Khuong (Contact Author)

National University of Singapore (NUS) - Lee Kuan Yew School of Public Policy ( email )

Singapore 117591
Singapore

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