Working Paper
The Practice of Industrial Policy – Lessons for Africa

African countries are facing great opportunities but also formidable challenges in accelerating economic growth and sustaining a high level of economic performance. The experiences of East Asian countries may offer valuable insights for African leaders and governments in making concerted efforts to formulate and implement effective industrial policy for dynamic structural transformation and inclusive growth. To this end, this paper presents useful lessons from selected East Asian countries, organized into five strategic dimensions in an ‘ASIAN Framework’: (i) Aspiration; (ii) Strategy; (iii) Implementation; (iv) Acquisition of knowledge; and (v) Nurture of human capital formation.