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While sharing some characteristics with other middle-income countries, South Africa is a country with a unique economic history and distinctive economic features. It is a regional economic powerhouse that plays a significant role, not only in southern Africa and in the continent, but also as a member of BRICS. However, there has been a lack of structural transformation and weak economic growth, and South Africa faces the profound triple challenges of poverty, inequality, and unemployment. Any meaningful debate about economic policies to address these challenges needs to be informed by a deep understanding of historical developments, robust empirical evidence, and rigorous analysis of South Africa's complex economic landscape. This volume seeks to provide a wide-ranging set of original, detailed, and state-of-the-art analytical perspectives that contribute to scientific knowledge as well as to well-informed and productive discourse on the South African economy. While concentrating on the more recent economic issues facing South Africa, the handbook also provides historical and political context. It offers an in-depth examination of strategic issues in the country's key economic sectors, and brings together diverse analytical perspectives.

This is an open access title available under the terms of a CC BY-NC-ND 4.0 International licence. It is free to read at Oxford Scholarship Online and offered as a free PDF download from OUP and selected open access locations. Made in Africa presents the findings of original field research into the design, practice, and varied outcomes of industrial policy in the cement, leather and leather products, and floriculture sectors in Ethiopia. It explores how and why the outcomes of industrial policy are shaped by particular factors in these industries. It also examines industrial structures and associated global value chains to demonstrate the challenges faced by African firms in international markets. The findings are discussed against the backdrop of 'industrial policy', which has recently found renewed favour among economists and international organizations, and of the history of thought about and practice in industrialization. The book seeks to learn from the failures and successes in the three sectors, all of them functioning under the umbrella of a single industrial strategy. It argues that an effective industrial policy requires a more interventionist state than most development economists would accept, including those recently claiming to champion a 'new industrial policy'. Moreover, it argues that success lies in the interactions among policy, specific industrial structures, and institutions. Specifically, a successful policy, he posits should maximize linkage effects, but will founder in the absence of a clear understanding of the political economy of each sector.

This is an open access title available under the terms of a CC BY-NC-ND 4.0 International licence. It is free to read at Oxford Scholarship Online and offered as a free PDF download from OUP and selected open access locations. Made in Africa presents the findings of original field research into the design, practice, and varied outcomes of industrial policy in the cement, leather and leather products, and floriculture sectors in Ethiopia. It explores how and why the outcomes of industrial policy are shaped by particular factors in these industries. It also examines industrial structures and associated global value chains to demonstrate the challenges faced by African firms in international markets. The findings are discussed against the backdrop of 'industrial policy', which has recently found renewed favour among economists and international organizations, and of the history of thought about and practice in industrialization. The book seeks to learn from the failures and successes in the three sectors, all of them functioning under the umbrella of a single industrial strategy. It argues that an effective industrial policy requires a more interventionist state than most development economists would accept, including those recently claiming to champion a 'new industrial policy'. Moreover, it argues that success lies in the interactions among policy, specific industrial structures, and institutions. Specifically, a successful policy, he posits should maximize linkage effects, but will founder in the absence of a clear understanding of the political economy of each sector.

From a war-torn and famine-plagued country at the beginning of the 1990s, Ethiopia is today emerging as one of the fastest-growing economies in Africa. Growth in Ethiopia has surpassed that of every other sub-Saharan country over the past decade and is forecast by the International Monetary Fund to exceed 8 percent over the next two years. The government has set its eyes on transforming the country into a middle-income country by 2025, and into a leading manufacturing hub in Africa.The Oxford Handbook of the Ethiopian Economy studies this country's unique model of development, where the state plays a central role, and where a successful industrialization drive has challenged the long-held erroneous assumption that industrial policy will never work in poor African countries. While much of the volume is focused on post-1991 economic development policy and strategy, the analysis is set against the background of the long history of Ethiopia, and more specifically on the Imperial period that ended in 1974, the socialist development experiment of the Derg regime between 1974 and 1991, and the policies and strategies of the current EPRDF government that assumed power in 1991.Including a range of contributions from both academic and professional standpoints, this volume is a key reference work on the economy of Ethiopia.

This is an open access title available under the terms of a CC BY-NC-ND 4.0 International licence. It is free to read at Oxford Scholarship Online and offered as a free PDF download from OUP and selected open access locations. Africa's recent progress in economic growth has been uneven across countries, and has not translated into structural transformation. Although economic ties between China and Africa have made a positive contribution this engagement has been uneven, shaped by variations in strategic approach, policy ownership, and implementation capacity among African governments. As China undergoes major economic rebalancing to upgrade to an innovation-driven economy, this is bound to affect China-Africa relations, offering both opportunities and challenges. Authored by leading scholars on Africa, China, and China-Africa relations, this volume brings together stimulating and thought-provoking perspectives, and insightful analyses. Focusing on Africa's economic development, it looks at core areas of structural transformation: productive investment and industrialization, international trade, infrastructure development, and financing. China-Africa relations are considered in the context of the global division of labour and power, and through the history and contexts of both China and Africa, a very diverse continent. This volume seeks to fill the gap in the existing literature, steer policy and scholarly debate on the progress and trajectory of China-Africa cooperation, and analyze China's development path as a source of learning for Africa.

This is an open access title available under the terms of a CC BY-NC-ND 4.0 International licence. It is free to read at Oxford Scholarship Online and offered as a free PDF download from OUP and selected open access locations. Unevenness and inequalities form a central fact of African economic experiences. This book challenges conventional wisdoms about economic performance and possible policies for economic development in African countries, using the striking variation in economic performance as a starting point.African Economic Development: Evidence, Theory, and Policy highlights not only difference between countries, but also variation within countries. It focuses on issues relating to gender, class, and ethnic identity, such as neo-natal mortality, school dropout, and horticultural and agribusiness exports. Variations in these areas point to opportunities for changing perfomance, reducing reducing inequalities, learning from other policy experiences, and escaping the ties of structure and the legacies of a colonial past.African Economic Development rejects teleological illusions and Eurocentric prejudice, criticizing a range of orthodox and heterodox economists for their cavalier attitude to evidence. Instead, it shows that seeing the contradictions of capitalism for what they are - fundamental and enduring - may help policy officials protect themselves against the misleading idea that development can be expected to be a smooth, linear process, or that it would be if certain impediments were removed.Drawing on decades of research and policy experience, this book combines careful use of available evidence from a range of African countries with economic insights to make the policy case for specific types of public sector investment.

This is an open access title available under the terms of a CC BY-NC-ND 4.0 International licence. It is free to read at Oxford Scholarship Online and offered as a free PDF download from OUP and selected open access locations.What are the prospects for successful learning and catch-up for nations in the twenty-first century? Why have some nations succeeded while others failed? The World Bank states that out of over one hundred middle-income economies in 1960, only thirteen became high income by 2008. How Nations Learn: Technological Learning, Industrial Policy, and Catch-up examines how nations learn by reviewing key structural and contingent factors that contribute to dynamic learning and catch-up. Rejecting both the 'one-size-fits-all' approach and the agnosticism that all nations are unique and different, it uses historical as well as firm-, industry-, and country-level evidence and experiences to identify the sources and drivers of successful learning and catch-up and the lessons for late-latecomer countries. Authored by eminent scholars, the volume aims to generate interest and debate among policy makers, practitioners, and researchers on the complexity of learning and catch-up. It explores technological learning at the firm level, policy learning by the state, and the cumulative and multifaceted nature of the learning process, which encompasses learning by doing, by experiment, emulation, innovation, and leapfrogging.

Industrialization supported by industrial hubs has been widely associated with structural transformation and catch-up. But while the direct economic benefits of industrial hubs are significant, their value lies first and foremost in their contribution as incubators of industrialization, production and technological capability, and innovation. The Oxford Handbook of Industrial Hubs and Economic Development adopts an interdisciplinary approach to examine the conceptual underpinnings, review empirical evidence of regions and economies, and extract pertinent lessons for policy reasearchers and practitioners on the key drivers of success and failure for industrial hubs.This Handbook illustrates the diverse and complex nature of industrial hubs and shows how they promote industrialization, economic structural transformation, and technological catch-up. It explores the implications of emerging issues and trends such as environmental protection and sustainability, technological advancement, shifts in the global economy, and urbanization.

Industrial policy has long been regarded as a strategy to encourage sector-, industry-, or economy-wide development by the state. It has been central to competitiveness, catching up, and structural change in both advanced and developing countries. It has also been one of the most contested perspectives, reflecting ideologically inflected debates and shifts in prevailing ideas. There has lately been a renewed interest in industrial policy in academic circles and international policy dialogues, prompted by the weak outcomes of policies pursued by many developing countries under the direction of the Washington Consensus (and its descendants), the slow economic recovery of many advanced economies after the 2008 global financial crisis, and mounting anxieties about the national consequences of globalization. The Oxford Handbook of Industrial Policy presents a comprehensive review of and a novel approach to the conceptual and theoretical foundations of industrial policy. The Handbook also presents analytical perspectives on how industrial policy connects to broader issues of development strategy, macro-economic policies, infrastructure development, human capital, and political economy. By combining historical and theoretical perspectives, and integrating conceptual issues with empirical evidence drawn from advanced, emerging, and developing countries, The Handbook offers valuable lessons and policy insights to policymakers, practitioners and researchers on developing productive transformation, technological capabilities, and international competitiveness. It addresses pressing issues including climate change, the gendered dimensions of industrial policy, global governance, and technical change.Written by leading international thinkers on the subject, the volume pulls together different perspectives and schools of thought from neo-classical to structuralist development economists to discuss and highlight the adaptation of industrial policy in an ever-changing socio-economic and political landscape.

Economic development, in its traditional formulation, ignores the impact of decisions made regarding energy, resources, and finance. The standard choices made are to use stocks of fossil fuels, stocks of resources and their linear flow, and generic finance. The implications of this are now clear. An alternative is being crafted which is based on flows of renewable energy and renewable fuels, on circular flows of resources, and on greening of financial instruments, such as equities and bonds. This involves a vast industrial revolution, creating the 'next' Great Transformation of the global economic system, one that is creating an economy that emulates life through its interconnections and circular flows. The shift is comprehensive, global, and all-encompassing. Greening of economic development is driven by industrial policy, technological capability, and enhancement of industrial capacity.With over fifty contributors, this volume draws on specialist expertise to provide a comprehensive overview of this process of greening of economic development. It demonstrates how the shift in energy, resource flows, and finance is a process rather than an endpoint; that it is compatible with economic growth; that it is powered by economic drivers such as cost reductions generated by experience curves; and that at the vast scale and rapid pace required it calls for a global Green Deal.The handbook frames novel objectives through greening that take state action and guidance in fresh directions and argues that the strategies involved are as relevant for emerging industrial economies creating new industries as to developed economies looking to transform themselves. Overall, it emphasizes how 'greening' creates a self-sustaining economy that does not cost the earth.

This is an open access title. It is available to read and download as a free PDF version on Oxford Academic and is made available under a Creative Commons Attribution-Non Commercial-No Derivatives 4.0 International licence.The Oxford Handbook of the Moroccan Economy provides the most authoritative and comprehensive analysis of the country's economy to date. Authored by over 50 leading academic scholars and policy practitioners, this volume is comprised of 35 chapters with rigorous empirical evidence and insights bolstered by long-term engagement in the nation. The Handbook offers a vital overview of Morocco's economic development and the policy options available for the future.The Handbook explores Morocco's progress towards economic diversification, structural transformation, and the development of industrial and economic policies. It covers original reviews of sectors including automotive, aeronautics, handicrafts, tourism, and logistics. Furthermore, it emphasises addressing key issues such as the middle-income trap and promoting economic transformation, offering valuable lessons for low- and middle-income countries across Africa and beyond.Morocco is often recognised as one of Africa's economic bright spots. This volume analyses its economic growth from 2000 to 2025, set against the wider historical context of post-independence development, political changes, and cultural heritage. The Handbook encompasses a diverse range of systematic analytical perspectives, making it an indispensable resource for anyone interested in the Moroccan economy.

This book explores industrial policy and how it can drive economic development within emerging and developing countries.

This book explores the vital role industrial hubs play in the economic catch-up of developing and emerging economies. It examines the characteristics of newly industrialised economies and the potential for industrial hubs to enable economic transformation, industrial agglomeration, and technological development. The uneven nature of industrialisation and economic growth is highlighted by case studies worldwide, including China, Singapore, South Korea, and Vietnam from Asia; and Ethiopia, Mauritius, and Morocco from Africa. An industrial policy framework for productive transformation and governance is outlined to present how the impact of industrial hubs can be maximised in accelerating late industrialisation and economic catch-up.This book offers unique insight into the opportunities and challenges presented by industrial hub development within emerging and developing economies. It will be of interest to students, researchers, policymakers, and practitioners working on industrial policy and development economics.