Keywords: industrialisation, comparison, macro–data, Asian economies, African economies, economic growth, urbanisation, economic development, Sub–Saharan Africa, East Asia, developing economies, industrial output, newly industrialised economies
The challenges of industrialisation in Sub–Saharan Africa and lessons from East Asia
In the past few decades, several developing economies, particularly in East Asia and parts of Latin America, have successfully transformed their economies and acknowledged as newly industrialised economies. The new industrialisers have also emerged as key players in the global economy breaking into lucrative foreign markets in industrialised economies. However, Sub–Saharan Africa has been marginalised by contemporary industrialisation. The unenviable trend has been blamed for the escalation of endemic poverty and inequality in the sub–region, presenting policy makers with considerable challenges. Therefore, the main objectives of this study are to examine the state of industrialisation in Sub–Saharan Africa. It employs empirical data to analyse industrial outputs in the sub–region from 1965 to 2005 and affirms the stagnating trend in the sub–region's industrial output for several countries. The study therefore presents a comprehensive framework aimed at scaling–up industrial policies in Sub–Saharan Africa, modelled after the newly industrialised economies in East Asia.