L'industrialisation de l'Afrique: l'importance des facteurs structurels et du régime de change

The industrialization of Africa: the importance of structural factors and exchange rate regime

Namalguebzanga Kafando

MPRA Paper from University Library of Munich, Germany

Abstract: This thesis aims to contribute to the rebirth of the industrialization paradigm in Africa and to provide exploitable recommendations for economic policies. This research can be summarized in three parts. The first part analyzes the relationships between sectors of rents and manufacturing. The second examines the effects of agriculture on the manufacturing sector. The third part innovates by integrating the exchange rate regime as a factor explaining the effect of the exchange rate misalignment on the growth rate of the manufacturing industry. From there, several results were obtained. Extractive industries have a positive effect on the manufacturing sector. In spite of its negative effect on the quality of governance, oil rents influence indirectly and positively on the development of manufacturing activities. Even if globally in Africa the development of agricultural activities can support the development of manufacturing activities, this effect is non-existent in North and South Africa. Flexible exchange rate allows promoting a rapid and sustained development of the manufacturing sector at the cost of greater volatility of the real exchange rate. Fixed exchange rate stability benefits the manufacturing sector at the price of a higher cost due to the slow adjustment of the real exchange rate.

Keywords: Industrialization; Manufacturing; Structural Change; oil rent; exchange rate; exchange rate regime. (search for similar items in EconPapers)
JEL-codes: O1 O11 O14 (search for similar items in EconPapers)
Date: 2014-07-10
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