Structural Transformation, Economic Development and Industrialization in Post-Covid-19 Africa

Delivering sustainable economic growth
Posted Jan 26, 2021 | Institute for New Economic Thinking, Carlos Lopes, Dirk Willem te Velde

The COVID-19 pandemic and its devastating effects on the economies of Africa’s states and their efforts at industrialization, have reinforced skepticism about the possibility of accelerated industrialization of African economies in a complex global environment. In their article for the Institute for New Economic Thinking, Carlos Lopes and Dirk Willem te Velde discuss three positive developments during the pandemic: green industrialization, digitalization, and regional integration. However, the current policy environment is still too focused on general investment climate issues and too little on targeted, faciliatory actions in specific sectors; and a commitment to industrial policy does not always lead to implementation because of weak institutions, or an unfavourable political economy.



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