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Table of Contents
Macroeconomic Policy Framework for Africa's Structural Transformation; Acknowledgments; Contents; List of Abbreviations; List of Figures; List of Tables; List of Boxes; 1 An Overview of Structural Transformation and Macroeconomic Policy Imperatives in Africa; 1.1 What is Structural Transformation and How is it Measured?; 1.2 Africa's Structural Transformation Imperative: Trends, Potential, and Key Drivers; 1.2.1 The Nature and Pattern of Structural Transformation in Africa; 1.2.2 Key Drivers of Structural Transformation; 1.2.3 The Role of Policy
Developmental States and Plans
1.3 Macroeconomic Policy for Structural Transformation in Africa1.4 Context and Macroeconomic Policy Imperatives for Africa's Structural Transformation; Notes; References; 2 Africa's Development Trajectory: Past, Present, and Future Directions; 2.1 Introduction; 2.2 Africa's Development Trajectory and Vision since Independence; 2.2.1 The Premature Demise of the "Nationalist Project"; 2.2.2 Neoliberalism and the Lost Decades of the 1980s and 1990s; 2.2.3 Structural Adjustment and the Rise of Democratic Movements in the 1990s
2.3 New Opportunities for Africa at the Dawn of the Twenty-First Century2.4 Africa's New Strategic Direction for Structural Transformation and Inclusive Growth; 2.4.1 Agenda 2063 and the Common Africa Position on the Post-2015 Agenda/Agenda 2030; 2.4.1.1 Agenda 2063; 2.4.1.2 The Common Africa Position on the post-2015 Agenda and the SDGs; Notes; References; 3 Pattern and Determinants of Structural Transformation in Africa; 3.1 Introduction and Review of the Literature; 3.2 Data and Methodology; 3.3 Results and Discussion; 3.3.1 Panel Regression Results; 3.3.1.1 Agriculture
3.3.1.2 Manufacturing3.3.1.3 Services; 3.3.2 Quantile Regression Results; 3.3.2.1 GMM Results; 3.4 Concluding Remarks; Notes; Appendix Tables for Alternative Model Table A1 (Panel Fixed Effects Regression); References; 4 Fiscal Policy, Long-Term Growth and Structural Transformation in Africa; 4.1 Introduction; 4.2 Boosting Government Revenue with Proper Incentives and Tax Structures; 4.2.1 Stylized Facts on Taxation in Africa; 4.2.2 Taxation and Development; 4.2.3 Tax Base, Design and Reform; 4.2.4 Informality and Smuggling; 4.2.5 Institutions and State Building
4.2.6 Natural Resources and Taxation4.2.7 Professionally Managing Commodity Funds; 4.2.8 Combatting Illicit Financial Flows; 4.3 Expenditure for Equity and Long-Term Development; 4.3.1 Public Investment, Growth and Poverty; 4.3.2 Infrastructure Still Lacking but Improving; 4.3.3 Low Quality Education Holding Back Structural Transformation; 4.3.4 Addressing Rural Poverty Through Social Protection Programmes; 4.4 Prudent Fiscal Management for Long-Term Growth and Structural Transformation; 4.4.1 Fiscal Sustainability; 4.4.2 Austerity Versus Fiscal Expansion
Developmental States and Plans
1.3 Macroeconomic Policy for Structural Transformation in Africa1.4 Context and Macroeconomic Policy Imperatives for Africa's Structural Transformation; Notes; References; 2 Africa's Development Trajectory: Past, Present, and Future Directions; 2.1 Introduction; 2.2 Africa's Development Trajectory and Vision since Independence; 2.2.1 The Premature Demise of the "Nationalist Project"; 2.2.2 Neoliberalism and the Lost Decades of the 1980s and 1990s; 2.2.3 Structural Adjustment and the Rise of Democratic Movements in the 1990s
2.3 New Opportunities for Africa at the Dawn of the Twenty-First Century2.4 Africa's New Strategic Direction for Structural Transformation and Inclusive Growth; 2.4.1 Agenda 2063 and the Common Africa Position on the Post-2015 Agenda/Agenda 2030; 2.4.1.1 Agenda 2063; 2.4.1.2 The Common Africa Position on the post-2015 Agenda and the SDGs; Notes; References; 3 Pattern and Determinants of Structural Transformation in Africa; 3.1 Introduction and Review of the Literature; 3.2 Data and Methodology; 3.3 Results and Discussion; 3.3.1 Panel Regression Results; 3.3.1.1 Agriculture
3.3.1.2 Manufacturing3.3.1.3 Services; 3.3.2 Quantile Regression Results; 3.3.2.1 GMM Results; 3.4 Concluding Remarks; Notes; Appendix Tables for Alternative Model Table A1 (Panel Fixed Effects Regression); References; 4 Fiscal Policy, Long-Term Growth and Structural Transformation in Africa; 4.1 Introduction; 4.2 Boosting Government Revenue with Proper Incentives and Tax Structures; 4.2.1 Stylized Facts on Taxation in Africa; 4.2.2 Taxation and Development; 4.2.3 Tax Base, Design and Reform; 4.2.4 Informality and Smuggling; 4.2.5 Institutions and State Building
4.2.6 Natural Resources and Taxation4.2.7 Professionally Managing Commodity Funds; 4.2.8 Combatting Illicit Financial Flows; 4.3 Expenditure for Equity and Long-Term Development; 4.3.1 Public Investment, Growth and Poverty; 4.3.2 Infrastructure Still Lacking but Improving; 4.3.3 Low Quality Education Holding Back Structural Transformation; 4.3.4 Addressing Rural Poverty Through Social Protection Programmes; 4.4 Prudent Fiscal Management for Long-Term Growth and Structural Transformation; 4.4.1 Fiscal Sustainability; 4.4.2 Austerity Versus Fiscal Expansion