Import substitution industrialization revisited: considering import substitution industrialization and export-oriented industrialization to accelerate intra-African trade and the expansion of regional value chains : side event held on the margins of Africa Industrialization Week summary of proceedings

Abstract

African countries are increasingly exploring innovative ways, in addition to tried but not fully tested approaches, to promote industrialization, both within the country and within the region. It is incontrovertible that industrialization can be an important driver of the structural transformation of national economies from largely agrarian-based, commodity-dependent, low-innovation and low-productivity to manufacturing- and service-based, with the capacity to power economic growth, generate employment and foster prosperity for citizens.