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The revival of economic growth in Sub-Saharan Africa is all the more welcome for having followed one of the worst economic disasters—a quarter century of economic malaise for most of the region—since the industrial revolution. Six of the world's fastest-growing economies in the first decade of this century were African. Yet only in Ethiopia and Rwanda was growth not based on resources and the rising price of oil. Deindustrialization has yet to be reversed, and progress toward creating a modern economy remains limited.
This book explores the vital role that active government policies can play in transforming African economies. Such policies pertain not just to industry. They traverse all economic sectors, including finance, information technology, and agriculture. These packages of learning, industrial, and technology (LIT) policies 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.
Akbar Noman teaches at Columbia University, where he is a senior fellow at the Initiative for Policy Dialogue, cochair of its Africa Task Force, and adjunct associate professor at the School of International and Public Affairs. He has also worked at Oxford University; the Institute of Development Studies at the University of Sussex; a number of international organizations, including the World Bank; and senior governmental positions.
Joseph E. Stiglitz is University Professor at Columbia University, former chief economist and senior vice president of the World Bank, and former chair of the Council of Economic Advisers under President Clinton. His books include Making Globalization Work; Freefall: America, Free Markets, and the Sinking of the World Economy; The Price of Inequality: How Today's Divided Society Endangers Our Future; Fair Trade for All (with Andrew Charlton), Creating a Learning Society: A New Approach to Growth, Development, and Social Progress (with Bruce C. Greenwald) and The Great Divide: Unequal Societies and What We Can Do About Them. In 2001, he was awarded the Nobel Prize in economics.
Acronyms
Acknowledgments
1. Introduction and Overview: Economic Transformation and Learning, Industrial, and Technology Policies in Africa, by Akbar Noman and Joseph E. Stiglitz
2. Is Industrial Policy Necessary and Feasible in Africa?: Theoretical Considerations and Historical Lessons, by Ha-Joon Chang
3. Industrial Strategy and Economic Transformation: Lessons from Five Outstanding Cases, by Akio Hosono
4. The Economic Implications of a Comprehensive Approach to Learning on Industrial Policy: The Case of Ethiopia, by Go Shimada
5. Review of Industrial Policies in Ethiopia: A Perspective from the Leather and Cut Flower Industries, by Girum Abebe and Florian Schaefer
6. The Return of Industrial Policy: (What) Can Africa Learn from Latin America?, by Annalisa Primi
7. Can the Financial Sector Deliver Both Growth and Financial Stability in Sub-Saharan Africa?, by Stephany Griffith-Jones with Ewa Karwowski
8. Growth Strategies for Africa in a Changing Global Environment: Policy Observations for Sustainable
and Shared Growth, by Danny Leipziger and Shahid Yusuf
9. Measuring Policy Performance: Can We Do Better than the World Bank?, by Julia Cagé
About the Editors
About the Authors
Index