Beyond Macroeconomic Stability: The Quest for Industrialization in Uganda
IMF Working Papers, September 1, 2008
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Bibliographic details
- Authors: Abebe Aemro Selassie
- Published: September 1, 2008
- Series: IMF Working Papers
- DOI: https://doi.org/10.5089/9781451870893.001
Central Research Questions
- The paper considers:
- (i) Uganda's record of economic transformation relative to the high growth Asian countries
- (ii) the contending explanations as to why more transformation and higher growth has proved elusive
Key Context and Framing
- Uganda has registered one of the most impressive economic turnarounds of recent decades.
- The amelioration of conflict and wide ranging economic reforms kick-started rapid economic growth that has now been sustained for some 20 years.
- Despite macroeconomic stability and reasonably well functioning markets, economic growth has not translated into significant structural transformation.
Subjects and Keywords
- Subject: Exports, Human capital, Income, Infrastructure, Real exchange rates
- Keywords: economic activity, exchange rate, growth acceleration, per capita income, SG country, take-off date, WP
Main Findings and Analytical Focus (as presented)
- Rapid economic growth in Uganda followed conflict reduction and economic reforms.
- Sustained growth for some 20 years has not produced significant structural transformation comparable to high growth Asian countries.
- The paper evaluates competing explanations for the limited transformation and restrained higher growth.
Implicit Policy and Research Implications (derived from paper focus)
- Need to assess structural constraints that hamper industrialization despite macroeconomic stability.
- Investigation of policy reforms and conditions necessary to convert growth into structural transformation, drawing lessons from high growth Asian experiences.
Source: IMF Working Paper "Beyond Macroeconomic Stability: The Quest for Industrialization in Uganda" by Abebe Aemro Selassie (Working Paper No. 2008/231, September 1, 2008).