NDLI: 15 Towards a New Industrial Policy for Structural Transformation

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1 Framing Structural Transformation in South Africa and Beyond

2 Structural Change in South Africa: A Historical Sectoral Perspective

3 Metals, Machinery, and Mining Equipment Industries in South Africa: The Relationship between Power, Governance, and Technological Capabilities

4 Leveraging Plastics Linkages for Diversification: An Assessment of Backward Linkages from Polymers and Forward Linkages to the Automotive Industry

5 Government Policy in Multinational-Dominated Global Value Chains: Structural Transformation within the South African Automotive Industry

6 The Industrialization of Freshness and Structural Transformation in South African Fruit Exports

7 Sustainability and Green Capital Accumulation: Lessons from the South African Wine Value Chain

8 Structural Transformation, Economic Power, and Inequality in South Africa

9 Black Economic Empowerment, Barriers to Entry, and Economic Transformation in South Africa

10 Profitability without Investment: How Financialization Undermines Structural Transformation in South Africa

11 The Middle-Income Trap and Premature Deindustrialization in South Africa

12 Digitalization, Industrialization, and Skills Development: Opportunities and Challenges for Middle-Income Countries

13 Global Value Chains, ‘In-Out-In’ Industrialization, and the Global Patterns of Sectoral Value Addition

14 The Political Economy of Structural Transformation: Political Settlements and Industrial Policy in South Africa

15 Towards a New Industrial Policy for Structural Transformation

List of Contributors

Acknowledgements

List of Figures

15 Towards a New Industrial Policy for Structural Transformation

Content Provider	Oxford Academic
Editor	Antonio Andreoni
Abstract	The South African case provides important insights into the challenges facing middle-income countries as they attempt to build productive capabilities to drive their structural transformation. Despite South Africa having opened up and integrated with the global economy, liberalizing trade and financial markets, it has remained stuck in relatively lower-productivity activities with weak diversification of exports. There continues to be a strong path dependency where markets are structured and shaped by previous investment decisions, state interventions, and entrenched rentieristic interests. Five important lessons emerge. First, premature deindustrialization needs to be arrested and reversed, including the growth and upgrading of the manufacturing sector. Second, the technological changes under way with the digitalization of economic activities mean that developing an industrial ecosystem of firms with effective links to public institutions is critical. Third, inclusive industrialization depends on achieving structural change and dismantling barriers to entry to allow a new system of accumulation to emerge. Fourth, structural transformation depends on a country's political settlement, specifically whether coalitions of interests that support the organization of industries for long-term investment in capabilities hold sway. Fifth, purposive and coordinated industrial policies are central to achieving these goals and improving the country's productivity and competitiveness. These are applied to identify key considerations for industrial strategy in South Africa, including confronting concentration and the urgent implications of the climate crisis, to 'build back better' from the Covid-19 pandemic.
Related Links	https://academic.oup.com/book/39853/chapter/340017070/chapter-pdf/49827327/oso-9780192894311-chapter-15.pdf
Ending Page	362
Starting Page	337
ISBN	9780192894311
DOI	10.1093/oso/9780192894311.003.0015
e-ISBN	9780191915352
Language	English
Publisher	Oxford University Press
Publisher Date	2021-08-26
Access Restriction	Open
Subject Keyword	Economic Development and Growth Economics Macroeconomics and Monetary Economics Social Sciences Structural Transformation Industrialization Industrial Ecosystems Industrial Policy Political Settlements
Content Type	Text
Resource Type	Chapter
Subject	Economics and Econometrics

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