Can Sub-Saharan Africa Learn from the Experiences of East Asian and Latin American Newly Industrializing Countries (NICs)?

Abstract

 The spectacular development experiences of East Asian Newly Industrializing Countries (EANICs) and Latin American NICs (LANICs) is compared. Growth in EANICs was driven by non-dogmatic, export orientated policy based on adequate understanding of factor intensity. Export orientation came late in LANICs; was denied the course of comparative advantage; and also suffered from deficient leverage the state had enacting policies. Sub-Saharan Africa (SSA) is a total contrast to NICs in terms of development orientation and policy. Economic liberalization and stabilization promoted in the right sequence is considered key to success. This however needs a radical redefinition of the SSA state itself.