The latest issue of Africa’s Pulse, the twice-yearly World Bank publication, contains a special study of economic transformation and poverty reduction in Africa. The report finds that the region’s economies are transforming but not in ways that were expected. The region is largely bypassing industrialization as a major driver of growth and jobs, and the extent of reallocation of labor to high-productivity, nontraditional activities has been limited.
This pattern of growth and transformation has implications for poverty reduction. In Africa, growth in agriculture and services has been more poverty reducing than growth in industry. In the rest of the world, by contrast, industry and services have a larger impact on reducing poverty.
For more information about the Africa Pulse, please follow the link: http://www.worldbank.org/en/