Economic Report on Africa 2014 focuses on industrial policies

The joint Economic Commission for Africa/African Union Commission annual flagship report launched on Tuesday focused on how to build innovative, effective and flexible industrial policy institutions, processes and mechanisms to enhance industrialization and structural transformation in Africa. The report 2014 release meeting was held at the University of Pretoria's SRC Chamber with Postgraduate School of Agriculture and Rural Development and Human Economy. The 2014 report, themed "Dynamic Industrial Policy in Africa: Innovative Institutions, Effective Processes and Flexible Mechanism," uses 11 country case studies to assess the critical ingredients for spurring Africa's industrialization - innovative institutions, effective processes and flexible mechanisms - and structural transformation. The report was launched at a time when Africa is emerging as a central region for global growth. It makes the argument that it is required for African countries to institute credible industrial policies as well as institutions that will advance structural transformation on the continent if industrialization is to successfully occur. The question and answer session in the meeting bought together policy makers, relevant UN agencies and the academic communities, including researchers, private sector stakeholders and government officials to discuss the policy recommendations of the report.