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Stages of diversification in Africa

Don Clark, Luiz Lima () and W. Charles Sawyer

Economics Letters, 2016, vol. 144, issue C, 68-70

Abstract: This paper investigates the relationship between manufacturing diversification and level of economic development for 29 African countries. Three diversification stages are identified. Considerable differences in diversification are found over the first stage at the low end of the per capita income scale. Diversification alone will not encourage development in poorer countries until obstacles such as weak institutions, poor governance and a lack of infrastructure are addressed. Diversification slows down over the remaining stages as countries develop. Results show countries further along the African economic development path successfully diversified manufacturing.

Keywords: African economic development; Manufacturing diversification; Industrialization; Industrial policy (search for similar items in EconPapers)
JEL-codes: O12 O14 O25 O53 (search for similar items in EconPapers)
Date: 2016
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DOI: 10.1016/j.econlet.2016.05.001

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