African Economic Outlook 2017 1st edition by African Development Bank – Ebook PDF Instand Download/DeliveryISBN: 9264274251, 978-9264274259
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ISBN-10 : 9264274251
ISBN-13 : 978-9264274259
Author: African Development Bank
The African Economic Outlook 2017 presents the continent’s current state of affairs and forecasts its situation for the coming two years. This annual report examines Africa’s performance in crucial areas: macroeconomics, external financial flows and tax revenues, trade policies and regional integration, human development, and governance. For its 16th edition, the report takes a hard look at the role of entrepreneurs in Africa’s industrialisation process. It proposes practical steps that African governments can take to carry out effective industrialisation strategies. Policies aimed at improving skills, business clusters and financing could remove important constraints on African private enterprises.
African Economic Outlook 2017 1st Table of contents:
Chapter 1. Africa’s macroeconomic prospects…………………………………………………………………………………………………21
In brief…………………………………………………………………………………………………………………………………………………………………………22
Africa’s growth resilience has been tested, but a basis for stronger future growth exists………….24
Domestic demand is becoming increasingly important as a driver of growth …………………………….28
More diversified economies are better performers regionally…………………………………………………………….30
Policy co-ordination and consistency are important cushions against shocks ……………………………32
External imbalances are inherently associated with policy uncertainties…………………………………….34
Annex 1.A1. External balance and policy uncertainty in Africa…………………………………………………………36
References …………………………………………………………………………………………………………………………………………………………………39
Chapter 2. External financial flows and tax revenues for Africa…………………………………………………………….41
In brief…………………………………………………………………………………………………………………………………………………………………………42
Private flows play an increasingly important role in the external financial landscape …………..44
Investments to Africa are returning to a growth path……………………………………………………………………………47
Remittances can spur investment and leverage entrepreneurship…………………………………………………..56
Official development assistance to African countries is still below commitments ……………………60
Domestic revenue mobilisation still falls short of needs ………………………………………………………………………64
Notes……………………………………………………………………………………………………………………………………………………………………………69
References …………………………………………………………………………………………………………………………………………………………………70
Chapter 3. Trade policies and regional integration in Africa ……………………………………………………………………73
In brief…………………………………………………………………………………………………………………………………………………………………………74
Africa’s trade has grown but it seeks more products………………………………………………………………………………76
Trade between African countries holds the key to sustainable economic development ………….82
Global economic developments are likely to have varying effects on trade with Africa ………….84
Africa’s regional communities champion trade policies and integration……………………………………………
and face challenges……………………………………………………………………………………………………………………………………………….86
Regional integration success requires action on supply and demand limitations ……………………..91
Note ……………………………………………………………………………………………………………………………………………………………………………..95
References …………………………………………………………………………………………………………………………………………………………………95
Chapter 4. Human development in Africa …………………………………………………………………………………………………………97
In brief…………………………………………………………………………………………………………………………………………………………………………98
Human development is both a means and an end…………………………………………………………………………………100
The state of human development in Africa shows positive results despite global shocks ………. 101
Harnessing Africa’s demographic dividend requires investing in skills and innovation …………..111
Investing in health and nutrition remains a critical priority to underpin productivity,
growth and resilience……………………………………………………………………………………………………………………………………….. 115
Africa’s common strategic vision for human development to enable entrepreneurship ………. 118
Notes………………………………………………………………………………………………………………………………………………………………………… 120
References ……………………………………………………………………………………………………………………………………………………………… 121
Chapter 5. Political and economic governance in Africa ………………………………………………………………………….125
In brief……………………………………………………………………………………………………………………………………………………………………… 126
The most recent data on governance in Africa shows growing demands for better ………………………
economic opportunities and more accountability…………………………………………………………………………………128
The current capacity and credibility of public institutions to improve policy responses
are below expectations and consequently have limited credibility………………………………………………. 135
A review of recent policy initiatives shows good examples of achieving results in public
service delivery, but this must be built on moving forward……………………………………………………………….141
References ……………………………………………………………………………………………………………………………………………………………… 150
Chapter 6. Improving entrepreneurship for industrialisation in Africa …………………………………………… 157
In brief……………………………………………………………………………………………………………………………………………………………………… 158
Industrialisation is back on Africa’s economic policy agenda………………………………………………………….. 160
Africa’s industrialisation calls for innovative strategies ……………………………………………………………………. 162
African entrepreneurs offer high but untapped potential for industrialisation ……………………….. 169
Annex 6.A1. Evolution of value added of total industry and of manufacturing ………………………………..
in selected African countries, 1990-2015…………………………………………………………………………………………………… 177
Annex 6.A2. Availability of the Global Entrepreneurship Monitor database………………………………………
for African countries, 2011-16………………………………………………………………………………………………………………………… 178
Notes………………………………………………………………………………………………………………………………………………………………………… 179
References ………………………………………………………………………………………………………………………………………………………………180
Chapter 7. Designing, carrying out and assessing Africa’s industrialisation strategies …………. 185
In brief………………………………………………………………………………………………………………………………………………………………………186
Governments can design industrialisation strategies to promote entrepreneurship ……………..188
Carrying out and assessing industrialisation strategies remain challenges………………………………194
Annex 7.A1. Impacts of entrepreneurship programmes in Africa………………………………………………….. 201
Notes…………………………………………………………………………………………………………………………………………………………………………202
References ………………………………………………………………………………………………………………………………………………………………203
Chapter 8. Policies to promote entrepreneurship for Africa’s industrialisation …………………………… 207
In brief………………………………………………………………………………………………………………………………………………………………………208
Policies that facilitate business for entrepreneurs are crucial for Africa’s industrialisation ………. 210
Improving skills is essential to strengthen Africa’s entrepreneurial capacity ………………………….. 214
Business clusters can help African firms grow………………………………………………………………………………………. 219
Diversified financing solutions can channel resources to African entrepreneurs ………………….. 224
Annex 8.A1. Active start-up incubators in Africa………………………………………………………………………………….. 231
Notes………………………………………………………………………………………………………………………………………………………………………… 232
References ……………………………………………………………………………………………………………………………………………………………… 233
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