The Practice of Industrial Policy Lessons for Africa: Co-Ordination Through an Asian Lens
32 Pages Posted: 5 Feb 2015
Date Written: December 31, 2014
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
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