Industrial Policy and Economic Transformation in 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.

An invaluable guide for Africa's pursuit of economic transformation and for those concerned with the 'what' and 'how' of government's role. This book highlights where government and industry can collaborate to design and execute a transformation agenda and sharply details why industrial policies should be central to government strategies. -- K. Y. Amoako, president, African Center for Economic Transformation A refreshing and timely intervention in policy debates on the industrialization of African countries. The book is outstanding and should be read not only by those interested in Africa's industrialization but also by readers from other parts of the world who have sought to bring industrial policy back into their own development thinking and endeavors. -- Thandika Mkandawire, London School of Economics This impressive book is about how to generate decent jobs, reduce poverty, and achieve inclusive and sustainable structural transformation through industrialization in Africa. It should be read by anyone who hopes to transform or help transform Africa from a land of poverty to a land of prosperity. -- Justin Yifu Lin, Peking University and former chief economist of the World Bank Marked by breadth and clarity, this is a valuable addition to the literature on economic policy on the African continent... Highly recommended. Choice

• 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 Cage About the Editors About the Authors Index