As a country’s manufacturing advances from low to medium and high technology, it can produce goods that command higher prices on international markets. Also, a rising capability to introduce new and improved technologies enables a country to sustain productivity growth over time.
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While the state would contribute to economic transformation, it is entrepreneurial firms, both large and small, that will spearhead the creation of employment and the production and distribution of goods and services that drive economic transformation. That is why government
Economic transformation entails learning and mastering new technologies, learning to produce new goods and services competitively for global markets, and breaking into new export markets. It thus requires taking risks—making bold, but informed bets. In a sense, it requires
Sub-Saharan countries can learn from their past experiences to create modern transformational development banks to support their transformation agendas. This does not necessarily mean new banks; in several countries it may call for restructuring some existing institutions an
Producing goods and services that are new in a country and entering new export markets are risky. If a pioneer enterprise succeeds, other enterprises can emulate it and benefit, with the whole country also benefiting. But private commercial banks unfamiliar with product inno
In a recent op-ed in The East African, ACET President, K.Y. Amoako reflects objectively on Africa's present reality, and visualizes a self-determined Africa of the future. There are four areas where “low-hanging fruit” can be harvested. Promo
On Monday May 13, 2014, ACET President, Dr. K.Y. Amoako delivered a speech at the Ghana Economic Forum held in Akosombo. In it, he detailed Ghana's current standing on the African Transformation Index, and outlined specific steps to move the economy forward. Not Just Any