Cover

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Title Page, Copyright

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Contents

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pp. vii-viii

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Preface and Acknowledgments

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pp. ix-xvi

Africa is rising. Since 1995 it has grown faster than many other parts of the developing world. Per capita income has been increasing steadily, and with six of the world’s ten fastest-growing economies of the last decade, Africa has been branded the developing world’s next “frontier market” by Wall Street and the World...

Part I. Why Industry Matters for Africa

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1. Why Industry Matters for Africa

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pp. 3-30

Economic growth in Africa has been on an accelerating trend for more than thirty years. The average annual growth rate of real output increased from 1.8 percent in the period 1980–89 to 2.6 percent in 1990–99 and 5.3 percent in 2000–09. Since 2010 it has remained in the range of 4.5 to 5.5 percent per year. One of the...

Part II. Realities and Opportunities

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2. Industrialization Efforts and Outcomes

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pp. 33-58

The idea that Africa should industrialize is not new. The Continent’s postindependence leaders—like those in many developing countries in the 1960s and 1970s—looked to industrialization as the key to rapid economic growth and transformation of their societies. Those aspirations have not been fulfilled. Both regionally and...

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3. Can Africa Break In?

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pp. 59-82

We wrapped up chapter 2 by noting that Africa was to some extent the victim of bad luck in its efforts to build industry. By the time the Continent had moved beyond the economic and political turmoil of the 1980s and 1990s, the center of gravity of global manufacturing had moved from the rich industrial countries of the...

Part III. Learning to Compete

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4. Productivity, Exports, and Competition

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pp. 85-108

In chapter 3 we argued that Africa has a new opportunity to break into global markets in industry, but we were careful to point out that low wages will not be enough to ensure Africa’s success. While there is evidence that some African firms have productivity levels that, when combined with low wages, make them competitive with Asian...

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5. Firm Capabilities

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pp. 109-132

Firm capabilities are shorthand for the knowledge and practices used by firms in the course of production and in developing new products. They are the basic building blocks of productivity and quality. The term is relatively new, but management experts and businessmen have known for a long time that firms differ markedly...

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6. Industrial Clusters

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pp. 133-154

Firms tend to concentrate in clusters and cities, drawn by the markets they serve, the products and services they produce, and the skills they require. In France, the United Kingdom, and the United States, 75 to 95 percent of industry is clustered or concentrated relative to overall economic...

Part IV. How Africa Can Industrialize

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7. A Strategy for Industrial Development

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pp. 157-182

Conventional wisdom has it that Africa’s failure to industrialize is primarily due to its poor investment climate, and notwithstanding our concerns with how the investment climate agenda has been implemented, conventional wisdom is still relevant. Africa entered the twenty-first century with large gaps in infrastructure, human...

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8. Dealing with Resource Abundance

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pp. 183-204

Africa is richly endowed with natural resources, and new discoveries in such previously non-resource-abundant economies as Ghana, Kenya, Mozambique, Tanzania, and Uganda raise the prospect that an increasing number of African countries will become resource exporters in the future. The exploitation of natural resources...

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9. An Agenda for Aid

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pp. 205-228

Chapters 7 and 8 addressed what African governments need to do to bring industry to Africa. This chapter focuses on Africa’s “development partners,” the international donor community. Official development assistance—foreign aid—exercises significant influence over public policymaking in Africa. The aid industry has pretty...

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Afterword: Leopards and Laggards

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pp. 229-232

Part IV outlined an agenda for industrial development that we believe can place Africa on a path toward sustained growth, good jobs, and reduced poverty. Before closing, we wanted to share some final thoughts on how Africa’s economy may evolve over the next several decades. Every student of Africa hears at some point the...

References

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pp. 233-254

Index

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pp. 255-268

Back Cover

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