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Market Brief - Africa Economic Financial Brief 23-27 December 2013
The success of an economy depends critically on the extent to which market structure, business climate and institutions promote the allocation of inputs to more productive businesses. Correspondingly, superior firm productivity brings about business dynamism critical for a country’s economic performance. Since exporters tend to be more productive than non-exporters, developing countries have actively pursued export oriented industrialization policies by encouraging manufacturing firms to export to international markets. Similarly, current thinking regarding ways of facilitating structural change in Africa emphasizes the capacity of economies to ‘learn-by-exporting’, through interactions with foreign customers and learning how to meet higher product standards, or through technology embodied in imports.