Manufacturing Transformation: Comparative Studies of Industrial Development in Africa and Emerging Asia by Carol NewmanManufacturing Transformation: Comparative Studies of Industrial Development in Africa and Emerging Asia by Carol Newman

Manufacturing Transformation: Comparative Studies of Industrial Development in Africa and Emerging…

EditorCarol Newman, John Page, John Rand

Hardcover | August 27, 2016

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While it is possible for economies to grow based on abundant land or natural resources, more often structural change-the shift of resources from low-productivity to high-productivity sectors-is the key driver of economic growth. Structural transformation is vital for Africa. The region's much-lauded growth turnaround since 1995 has been the result of making fewer economic policy mistakes, robust commodity prices, and new discoveries of natural resources. At the same time, Africa's economic structure has changed very little. Primary commodities and natural resources still account for the bulk of the region's exports. Industry is most often the leading driver of structural transformation. Africa's experience with industrialization over the past thirty years has been disappointing. In 2010, sub-Saharan Africa's average share of manufacturing value added in GDP was ten per cent, unchanged from the 1970s. Actually, the share of medium- and high-tech goods in manufacturing production has been falling since the mid-1990s. Per capita manufactured exports are less than ten per cent of the developing country average. Consequently, Africa's industrial transformation has yet to take place.
Title:Manufacturing Transformation: Comparative Studies of Industrial Development in Africa and Emerging…Format:HardcoverDimensions:320 pages, 9.21 × 6.02 × 0.03 inPublished:August 27, 2016Publisher:Oxford University PressLanguage:English

The following ISBNs are associated with this title:

ISBN - 10:0198776985

ISBN - 13:9780198776987

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