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We investigate the scale, causes and timing of significant episodes of industrialization and deindustrialization in Sub-Saharan Africa. Recent studies have argued that the turning point of manufacturing output and employment shares tends to occur "prematurely" in this region (Rodrik, 2016). We perform our analysis using panel data methods for fractional responses and data from a variety of sources for a panel of 45 African countries. Our results overwhelmingly do not support the common finding that Sub-Saharan Africa countries have begun to deindustrialize prematurely. Moreover, we document meaningful heterogeneity across subregions of Sub-Saharan Africa with the Southern region being the only subregion that witnessed limited deindustrialization. However, this deindustrialization of the southern subregion does not appear to be occurring prematurely. The study also explores the potential role of Dutch disease and resource-curse hypotheses in understanding Sub-Saharan Africa's manufacturing experience in resource rich countries. We conclude that manufacturing remains a viable and reliable path towards structural transformation in Sub-Saharan Africa. • The scale, causes and timing of industrialization and deindustrialization in Sub-Saharan Africa are investigated with a panel of 45 countries. • The share of manufacturing in economy-wide employment is rising, while the manufacturing value added share seems to be more or less stagnating. • Using manufacturing value added share as a measure of industrialization, we find no evidence of deindustrialization in sub-Saharan Africa. • Industrialization through manufacturing remains a leading and reliable path towards structural transformation in Africa. [ABSTRACT FROM AUTHOR]

Summary This paper examines the evolution of Chinese rural industry since the rural reform in the late 1970s and revisits the debate on the role of ownership. Based on a case study of W county in southern Jiangsu province as well as drawing on national data, the author shows that the community-based market dynamic had been a key factor in the expansion of rural enterprises and that its weakening in recent years has led to the closing of village enterprises and deindustrialization of the countryside. Large-scale land expropriation, sponsored by local government, is the principal factor responsible for the change. [ABSTRACT FROM AUTHOR]

Summary: The paper analyzes the impacts of cash flow from multiple investments in real and financial sectors on the new fixed investment spending of real sector firms. The empirical results based on the Euler equation approach and semi-annual firm level data from two major emerging markets, Mexico and Turkey, suggest that profits and rates of returns from fixed and financial assets have differential effects on fixed investment spending of real sector firms. Accordingly, increasing availability and accessibility of alternative investment opportunities in financial markets can become instrumental in channeling real sector savings to short-term financial investments instead of long-term fixed capital formation and thus lead to deindustrialization. [Copyright &y& Elsevier]

• Manufacturing allows dynamic, sustained gains in skill, technology, and innovation. • Not all countries can simultaneously industrialize to develop their economies. • Competition in global markets has led some countries to deindustrialize prematurely. • The high-productivity services have limited potential to absorb a lot of labor. • Thus, there is need to strengthen private economic fundamentals and public policy. This paper takes a fresh look at the current theories of structural transformation and the role of private and public fundamentals in the process. It summarizes some representative past and current experiences of various countries vis-a-vis structural transformation with a focus on the roles of manufacturing, policy, and the changing nature of global production in shaping the trajectory of structural transformation. The salient aspects of the current debate on premature deindustrialization and its relation to a middle-income trap are described as they relate to the path of structural transformation. Conclusions are drawn regarding prospective future paths for structural transformation and development policies as well as for the need for further empirical analysis to inform our current understanding of the process of economic development. [ABSTRACT FROM AUTHOR]