The resumption of growth in Sub-Saharan Africa though impressive has yet to translate into the economic transformation that provides the basis for sustained, rapid growth. The shares of manufacturing and formal sector employment have still not recovered to 1980 levels. Governance concerns have unduly inhibited emulation of successful trade and related policies that have worked elsewhere and can work in Africa. Many of the liberalization policies not so much reduce rents and corruption as divert them into unproductive activities and capital flight. Africa can choose selectively from lessons of successes and failures in trade and industrialization policies, including in institution building. A carefully crafted system of protection can help to divert rents to productive activities and learning that are the basis for sustained growth. The neglect of the need for appropriate protection and finance needs to be rectified.
Akbar Noman (Fri,) studied this question.
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