University of Pretoria hosts the launch of the 2014 Economic Report on Africa on 27 May 2014.

29 May 2014 | News and Media

Pretoria, 27 May 2014 – The joint United Nations Economic Commission for Africa/African Union Commission annual flagship report, themed “Dynamic Industrial Policy in Africa: Innovative Institutions, Effective Processes and Flexible Mechanism”, was launched at the University of Pretoria on 27 May 2014.

Dr. Adam Elhiraika, Director, Macroeconomic Policy Development Division, UN Economic Commission for Africa, presents the main findings of the 2014 Economic Report on Africa held at the University of Pretoria, 27 May 2014

Dr. Adam Elhiraika, Director, Macroeconomic Policy Development Division, UN Economic Commission for Africa, presents the main findings of the 2014 Economic Report on Africa held at the University of Pretoria,
27 May 2014

The 2014 report uses 11 country case studies to assess the critical ingredients for spurring Africa’s industrialization innovative institutions, effective processes and flexible mechanisms and structural transformation.

The report was launched at a time when Africa is emerging as a central region for global growth. It makes the argument that it is required for African countries to institute credible industrial policies as well as institutions that will advance structural transformation on the continent if industrialization is to successfully occur.

 

Key Messages:

“There is a strong consensus that an expanding and prosperous industrial sector is crucial to the structural transformation of African economies and that, given the ubiquity of market failures, industrial policy interventions are usually required. Markets by themselves are also generally incapable of undertaking the kinds of structural transformation needed to move from low- to high-productivity activities..”

1. Many African countries have experienced structural transformation in reverse
2. African countries need a new industrial policy framework
3. Successful frameworks for industrial policy are dynamic and organic
4. Public-Pricvate dialogue is essential to identify obstacles
5. “Embeded Autonomy” is an imperative for dynamic industrial policy
6. Effective industrial policy frameworks require high-level coordination and political support
7. Regulatory effectiveness is needed to ensure policy coherence
8. Govenments need to incrementally create “Poket of Effieciency” when they lack bureaucratic experience
9. Integrated Development Policy frameworks can promote industrial policy effectiveness

For more information on the report please visit:
http://www.uneca.org/publications/economic-report-africa-2014

 

Garth Strachan, Deputy Director General, Industrial Development Division, Department of Trade and Industry, discussant at the launch of the 2014 Economic Report on Africa held at the University of Pretoria, 27 May 2014

Garth Strachan, Deputy Director General, Industrial Development Division, Department of Trade and Industry, discussant at the launch of the 2014 Economic Report on Africa held at the University of Pretoria, 27 May 2014

Dr. Agostinho Zacarias (left), UN Resident Coordinator / UN Development Programme Resident Representative in South Africa, presents at the launch of the 2014 Economic Report on Africa held at the University of Pretoria, 27 May 2014

Dr. Agostinho Zacarias (left), UN Resident Coordinator / UN Development Programme Resident Representative in South Africa, presents at the launch of the 2014 Economic Report on Africa held at the University of Pretoria, 27 May 2014