Foresight Africa: Top Priorities for the Continent in 2014
The African Union's industrial development plan has not yet achieved its goal of transforming Africa's economy, with manufacturing's share of GDP stagnant since the 1970s. Despite low wages, African firms are competitive, but face environmental and logistical constraints. Regulatory reforms alone are insufficient for industrial growth, and small firms are not the primary job creators. In 2014, Africa must focus on improving the business environment, investing in infrastructure, enhancing education, and supporting growing firms.
(Generated with the help of GPT-4)
| Quick Facts | |
|---|---|
| Report location: | source |
| Language: | English |
| Publisher: | Brookings Institution |
| Authors: | Amadou Sy, Calestous Juma, Haroon Bhorat, John Mukum Mbaku, Katherine Gordon, Lesley Anne Warner, Mwangi S. Kimenyi, Temesgen Tadesse Deressa, Vanda Felbab-brown, John Page, The Brookings Institution ❘ Africa Growth Initiative |
| Geographic focus: | Africa |
Methods
The research method used in the report involved plant-level analysis, examination of foreign direct investment (FDI) flows, trade volume analysis, and evaluation of the impact of climate events on African economies. It also included a review of policies and initiatives such as the Action Plan for the Accelerated Industrial Development of Africa (AIDA) and the Extractive Industries Transparency Initiative (EITC).
(Generated with the help of GPT-4)
Key Insights
African countries have the potential to compete in manufacturing but are hindered by inadequate infrastructure and regulatory environments. Myths about African industry, such as the lack of competitiveness, the efficacy of deregulation, and the role of small firms as job creators, have been debunked. In 2014, Africa should prioritize public-private coordination, infrastructure development, educational reforms, and support for growing firms to achieve industrialization.
(Generated with the help of GPT-4)
Additional Viewpoints
Categories: Africa geographic scope | English publication language | agriculture | climate change | competitiveness | education | employment | foreign direct investment | general | genetically modified crops | industrialization | infrastructure | international criminal court | piracy | policy reforms | post-2015 development agenda | public-private coordination | small firms | sustainable development | trade | youth