The paper analyses the enigmatic high growth in Ethiopia from 2004 to 2015 (10.9% p.a.) and gauges the prospects for the future. In 2000, Ethiopia was the poorest country on the globe in per capita GDP - a mere 124 USD in current prices. The main finding is that the take-off was driven by...

Tanzania ranks among the leading stars of the 'African growth miracle', but a sector that has been largely absent from the Tanzania success story is industry. Although growth of manufacturing has outpaced economic growth over the past decade, relative to international norms and its ambitious...

The policy brief synthesises key policy findings from Area 3. The over-riding goal is to foster the transition to a new growth path for Europe, with a dynamic manufacturing and services base, greater social inclusiveness, less unemployment and higher sustainability based on excellence in clean...

The role of institutions in Asian development has been intensely contested since Myrdal's Asian Drama, with later contributions from institutional economics and developmental state theory. Despite much progress, the dominant approaches do not agree about the institutions that matter nor do they...

This paper argues that the single most important factor that explains East Asia's development success was its fast structural transformation toward industrialization, manufacturing in particular. Workers moved out of agriculture into manufacturing, and the sector diversified and upgraded its...

Industrial transformation of Asia arguably constitutes the most surprising and dramatic change in the global economy in the last fifty years. This paper provides an outline of some of the most important trends of this development and analyses selected national industrial policies that promoted...

The conventional paradigm about development banks is that these institutions exist to target well-identified market failures. However, market failures are not directly observable and can only be ascertained with a suitable learning process. Hence, the question is how do the policymakers know...

The Fourth Industrial Revolution (4IR) is impacting on the industrialization options for Africa inter alia through three interrelated sets of technologies, namely automation, additive manufacturing and the Industrial Internet. In this paper I set out the case for why Africa should industrialize....

While popular opinion often pictures FDI flowing in search of lowest-wage, lowest- skilled activities in emerging markets, actual FDI to such countries increasingly addresses medium to high-skilled manufacturing sectors. Such FDI might be called "Quality FDI" that contributes to the creation of...

Industrial policy is back. Advocates for industrial policy argue that the important question is not whether such policies should be applied at all, but how to design and implement them. For the extractive industries this development poses a challenge. First, there is the argument that host...