Inclusive Industrial Growth in Africa: The Role of Institution for Local Knowledge.
Hilary Nwokeabia, UNCTAD
This paper is to shed light on how institutional lacklustre constrains African knowledge system from inclusively supporting sustained economic and industrial growth in the continent. It alludes to the fact that elite Africans commonly emphasize foreign investment and knowledge and therefore the paper insists that this style of thinking has put growth and development in Africa on the least inclusive path. The paper shows through Motivation and Growth-ladder models that emphasizing the local knowledge system changes that non-inclusive growth path. This knowledge system is a central component for the daily life of millions of people in the continent. It plays an important role in vital areas as food security, local agriculture, construction, entertainment and medical treatment for up to 80% of Africa’s economy. The conclusion is that providing institutional mechanism for promoting the commonly held local knowledge will inclusively generate a high scale economic and industrial growth path in Africa.