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Economic Diversification in Africa: How and Why It Matters

Carnegie Endowment for International Peace
Source: Getty
Summary: Many African countries have placed economic diversification high on the policy agenda, yet they first need to define what it means in their specific structural and socioeconomic contexts.
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Summary
For decades, economic diversification has been a policy priority for low- and middle-income economies. In the words of former managing director of the International Monetary Fund (IMF), Christine Lagarde, “We know that economic diversification is good for growth. Diversification is also tremendously important for resilience.” Unfortunately, this goal continues to elude many African countries. In fact, the continent is home to eight of the world’s fifteen least economically diversified countries. This reality weakens the foundation of their economic transfomation and slows their pace of progress. It also ma ....

United States , Sri Lanka , Noord Holland , National Bureau Of Economic Research , South Africa , Carnegie Endowment For International Peace , District Of Columbia , International Institute , Saudi Arabia , Equatorial Guinea , World Bank , Ralf Ruhwedel , Michael Ferrantino , Francisco Garfias , Celestin Monga , Young Eun Kim , Harinder Kohli , Luigi Zingales , Guillermoe Perry , Stevenn Durlauf , Olivier Cadot , Timothy Besley , Francisco Buera , Deborah Winkler , Roberta Piermartini , Jean Imbs ,

Economic Diversification in Africa: How and Why It Matters

Carnegie Endowment for International Peace
Source: Getty
Summary: Many African countries have placed economic diversification high on the policy agenda, yet they first need to define what it means in their specific structural and socioeconomic contexts.
Related Media and Tools
If you enjoyed reading this, subscribe for more!
Thank you!
Summary
For decades, economic diversification has been a policy priority for low- and middle-income economies. In the words of former managing director of the International Monetary Fund (IMF), Christine Lagarde, “We know that economic diversification is good for growth. Diversification is also tremendously important for resilience.” Unfortunately, this goal continues to elude many African countries. In fact, the continent is home to eight of the world’s fifteen least economically diversified countries. This reality weakens the foundation of their economic transfomation and slows their pace of progress. It also ma ....

United States , United Kingdom , Sri Lanka , Noord Holland , National Bureau Of Economic Research , New York , South Africa , Carnegie Endowment For International Peace , District Of Columbia , Columbia University , International Institute , City Of , Equatorial Guinea , Saudi Arabia , World Bank , Republic Of South Africa , J Peter Neary , Ralf Ruhwedel , Michael Ferrantino , Francisco Garfias , Fuad Hasanov , Francesco Trebbi , Harinder Kohli , Roberto Alvarez , Young Eun Kim , Heiko Hesse ,