IGC Plenary: Africa Rising
On April 9th 2014 the IGC hosted a Plenary at the Royal Economics Society Conference on Africa Rising in Manchester, UK. The event was live-steamed, and a video is available here. You can also view Tweets from the event via the hashtag #RESConf2014.
The surge in resource prices triggered a wave of resource discoveries in Africa; during the coming decade these new discoveries will be extracted. Both the infrastructure needed for this extraction and the ensuing resource revenues will open up major opportunities for development. However, the history of development through resource extraction is replete with failures. Paul Collier discussed what we have learnt about the economic and political steps needed for successful development.
The remarkable rise in Chinese wages is finally opening up opportunities for low-income countries to break into manufacturing. Will this process of Chinese offshoring be confined to Asia or can Africa also break in? John Sutton focused on the prospects for advances in industrial development in five countries: Ethiopia, Ghana, Tanzania , Zambia and Mozambique. All five are poised on the threshold of moving into middle manufacturing. Will it happen? And what can be done to improve the odds?