Banji Oyelaran-Oyeyinka – författare

Economic diversification entails a shift away from a single income source toward multiple income sources from an increasing spectrum of sectors and markets. A persistent concern for some Asian and African economies is their reliance on commodity exports and how they are exposed to the risk of export volatility and income instability. The Covid-19 pandemic and previous oil crashes have demonstrated the adverse impact on such economies. This book provides a systemic analysis of sustainable economic development through economic diversification.

The book analyzes diversification and development experiences from comparative perspectives of Asia and Africa. It also investigates determinants of export diversification differentiated by commodities-dependence versus manufactured products and looks at the roles of various institutions and governance of institutions in export diversification.

This book will provide policy insights into how different degrees of specialisation in exports across countries have affected outcomes in terms of living standards, economic growth and employment.

Economic diversification entails a shift away from a single income source toward multiple income sources from an increasing spectrum of sectors and markets. A persistent concern for some Asian and African economies is their reliance on commodity exports and how they are exposed to the risk of export volatility and income instability. The Covid-19 pandemic and previous oil crashes have demonstrated the adverse impact on such economies. This book provides a systemic analysis of sustainable economic development through economic diversification.

The book analyzes diversification and development experiences from comparative perspectives of Asia and Africa. It also investigates determinants of export diversification differentiated by commodities-dependence versus manufactured products and looks at the roles of various institutions and governance of institutions in export diversification.

This book will provide policy insights into how different degrees of specialisation in exports across countries have affected outcomes in terms of living standards, economic growth and employment.

The most important issue for development centres on the debate about the centrality of knowledge, technology and innovation to the process of economic development. While this much is broadly agreed, what is at issue is the precise mechanics of overcoming economic development challenges in different contexts. At the heart of it all is about how economies at different levels deploy the unending streams of information and knowledge to developmental ends. In time, the notion of income convergence between the poorer South and the wealthy North has proved a mirage, while a new economic divide has in fact occurred within the South itself, and as well, between regions and within regions. The debate relating to latecomers is thus framed in discussions about regions and countries that arrive late to mastering industrialization in achieving economic prosperity through the use of knowledge. In other words, a new divide has emerged among the latecomers themselves, and with it, greater conceptual complexity in the ways of our understanding of the divergent ways of economic development. We have thus separated "fast followers" and new "late comers".

This book enters this debate acutely aware of the complexity of this process. The authors argue that economic development is largely driven by innovation, concentrating on the dynamics of process, product and organizational changes and how they are embedded within specific and varied contextual institutions.

The most important issue for development centres on the debate about the centrality of knowledge, technology and innovation to the process of economic development. While this much is broadly agreed, what is at issue is the precise mechanics of overcoming economic development challenges in different contexts. At the heart of it all is about how economies at different levels deploy the unending streams of information and knowledge to developmental ends. In time, the notion of income convergence between the poorer South and the wealthy North has proved a mirage, while a new economic divide has in fact occurred within the South itself, and as well, between regions and within regions. The debate relating to latecomers is thus framed in discussions about regions and countries that arrive late to mastering industrialization in achieving economic prosperity through the use of knowledge. In other words, a new divide has emerged among the latecomers themselves, and with it, greater conceptual complexity in the ways of our understanding of the divergent ways of economic development. We have thus separated "fast followers" and new "late comers".

This book enters this debate acutely aware of the complexity of this process. The authors argue that economic development is largely driven by innovation, concentrating on the dynamics of process, product and organizational changes and how they are embedded within specific and varied contextual institutions.

This book examines long-term structural changes and the broad impact on economic development in regional comparative perspectives. The book analyzes data across Africa, Asia and Latin America. It looks at key variables of productivity growth, industrialization, poverty, urbanization, and employment. This book is concerned with understanding structural change dynamics and how it affects job creation, living standards, and the efficiency of productive cities through manufacturing productivity growth that benefits majority of citizens.

With empirical evidence from a selected number of developing countries including China, India, Brazil, Nigeria and South Africa, the book attempts to present the considerable structural changes of these countries over the last few decades. It highlights that growth without the expected job creation is one of the distinct features of growth in emerging and developing countries. It suggests that countries may well record economic growth, whether through within sector productivity increase or through structural change, but this may not necessarily lead to employment, an important concern for long-term development.

This book examines long-term structural changes and the broad impact on economic development in regional comparative perspectives. The book analyzes data across Africa, Asia and Latin America. It looks at key variables of productivity growth, industrialization, poverty, urbanization, and employment. This book is concerned with understanding structural change dynamics and how it affects job creation, living standards, and the efficiency of productive cities through manufacturing productivity growth that benefits majority of citizens.

With empirical evidence from a selected number of developing countries including China, India, Brazil, Nigeria and South Africa, the book attempts to present the considerable structural changes of these countries over the last few decades. It highlights that growth without the expected job creation is one of the distinct features of growth in emerging and developing countries. It suggests that countries may well record economic growth, whether through within sector productivity increase or through structural change, but this may not necessarily lead to employment, an important concern for long-term development.

This book examines Nigeria, Africa’s largest economy and most populous country, and Asia in comparative development and sectoral perspectives. We traced the divergent growth in wealth between the two regions. It takes a novel approach of matching key growth sectors across five selected Asian countries and Nigeria in a cross-regional context. We found that state and institutional capabilities underlying the generation and diffusion of industrial and technological knowledge in Asia distinguished it from Africa. We employ quantitative and qualitative methods, including case studies and statistical/econometric methods, to analyze factors that separate the sample countries that made rapid economic progress in “catching up” and those that tend to be stagnating and “falling behind.”Progress made by Asian countries over the last five decades was due in large part to their pursuit of industrialization, technological acquisition underpinned by leadership, good governance, and policies in the right institutional contexts. The four Asian countries compared with Nigeria are Indonesia, Malaysia, South Korea, Vietnam, and Bangladesh. There was not one grand development formula; however, the strategy broadly consisted of industrial (vertical) diversification as well as (horizontal) diversification in agriculture. Building industrial capabilities that enable export competitiveness was critical. Again, while leadership is not usually included in factors of growth, the book devotes a chapter to Leadership and Industrialization and another to State Capacity Industrialization and Economic Growth.African countries on the contrary took the low road in exporting minerals and raw agricultural commodities with little value addition; in the process, Africa experienced a reversal of fortune. The African condition is manifestly a Reversal of Fortune because in the 1950s, they were ahead of, or equal to, Asia in per capita income as well as in other development metrics.We carried out empirical measurement of Reversal of Fortune manifested in economic, social, technological, and industrial conditions by analyzing the disparities in development metrics, particularly the levels and rates of growth of national incomes, industrialization rates, and Human Development Index (HDI). The differences are stark.

This book examines Nigeria, Africa’s largest economy and most populous country, and Asia in comparative development and sectoral perspectives. We traced the divergent growth in wealth between the two regions. It takes a novel approach of matching key growth sectors across five selected Asian countries and Nigeria in a cross-regional context. We found that state and institutional capabilities underlying the generation and diffusion of industrial and technological knowledge in Asia distinguished it from Africa. We employ quantitative and qualitative methods, including case studies and statistical/econometric methods, to analyze factors that separate the sample countries that made rapid economic progress in “catching up” and those that tend to be stagnating and “falling behind.”Progress made by Asian countries over the last five decades was due in large part to their pursuit of industrialization, technological acquisition underpinned by leadership, good governance, and policies in the right institutional contexts. The four Asian countries compared with Nigeria are Indonesia, Malaysia, South Korea, Vietnam, and Bangladesh. There was not one grand development formula; however, the strategy broadly consisted of industrial (vertical) diversification as well as (horizontal) diversification in agriculture. Building industrial capabilities that enable export competitiveness was critical. Again, while leadership is not usually included in factors of growth, the book devotes a chapter to Leadership and Industrialization and another to State Capacity Industrialization and Economic Growth.African countries on the contrary took the low road in exporting minerals and raw agricultural commodities with little value addition; in the process, Africa experienced a reversal of fortune. The African condition is manifestly a Reversal of Fortune because in the 1950s, they were ahead of, or equal to, Asia in per capita income as well as in other development metrics.We carried out empirical measurement of Reversal of Fortune manifested in economic, social, technological, and industrial conditions by analyzing the disparities in development metrics, particularly the levels and rates of growth of national incomes, industrialization rates, and Human Development Index (HDI). The differences are stark.