The State as Agent: Industrial Development in Taiwan, 1952–1972
- 46 Downloads
Sub-Saharan Africa’s industrialization experience has been marked by considerable unevenness and uncertainty over the past generation. Buffeted by changing international market conditions, and by the instability of domestic policies, African manufacturers have generally been unable either to substitute successfully for manufactured imports, or to break into increasingly competitive export markets. The austerity conditions of the past decade have led to massive retrenchments for industry in most African countries: faced with shortages of foreign exchange, tight money supply, and depressed local demand, few industrial sectors have avoided significant reductions in capacity utilization and employment.
KeywordsExchange Rate Interest Rate African Country Foreign Exchange Real Wage
Unable to display preview. Download preview PDF.
- 31.For a similar finding in Japan, see G. Allen (1981.) ‘Industrial Policy and Innovation in Japan,’ in C. Carter (ed.) Industrial Policy and Innovation. (London: Heinemann), cited in Wade, 1990, p. 220.Google Scholar