This event will be a book launch for a newly published book titled From Reversal of Fortune to Economic Resurgence: Industrialization and Leadership in Asia’s Prosperity and Nigeria’s regress.
The book explores the longstanding but urgent question why Africa fell behind and experienced development reversal by looking closely at Nigeria’s journey from projected boom to relative stagnation, and contrasts it with four Asian countries: Malaysia, Indonesia, Vietnam and Bangladesh. Suported by extensive data, the book’s analysis highlights the startling disparities, between Nigeria and these four Asian countries in institutional capacity, expanded educational possibilities and improved economic performance, and the nuanced impact of resource dependency on the failings of leadership and state institutions that catalyse innovation. The authors puts knowledge and technological acquisition at the centre of their analysis and showcase the central issues in Africa’s development conundrum while using Nigeria as a case study. The book argues persuasively that strong economies attain their success by implementing solid economic policies that not ony promote macroeconomic stability but suport domestically suited growth paradigms that are robust, balanced, and inclusive. It ends with suggestions on how Nigeria, and by extension, Africa can cultivate and benefit from such leadership and vision to reverse its fortunes.
The book launch will discuss the key issues raised by the book for economic development in Africa, namely: the impact of resource dependency and how it undermines the process of technology acquisition (and innovation), the differentiated impact of the resource curse in Africa’s underdevelopment, and the critical role of leadership in fostering development and causing economic reversals.
About the speakers
Banji Oyelaran-Oyeyinka is currently the Senior Special Adviser on Industrialization to the President of the African Development Bank (AfDB) where he is coordinating the establishment of Agro-Industrial Processing Zones and Industrial Policy in several African countries. Professor Oyelaran-Oyeyinka holds a Bachelor of Science (First Class Honours) in Chemical Engineering from the University of Ife (now Obafemi Awolowo University), Master’s in chemical engineering, University of Toronto, Canada, and Doctor of Philosophy (DPhil) in Development Economics specializing in the Economy of Technological Change and Industrialization, University of Sussex, United Kingdom. He is the first Nigerian professor in the field of Development Economics and Industrial Policy.
Padmashree Gehl Sampath is Visiting Professor in Practice, LSE and Chief Executive Officer African Pharmaceutical Technology Foundation. A well-respected thought leader in the fields of technology and innovation, she brings vast experience on the workings of the pharmaceutical sector in LMICs including on market shaping, finance and access to medicines. Until recently, she worked and held senior roles at Harvard University, the Africa Centres for Disease Control and Prevention, and several international agencies.
David Luke is Professor in Practice and Strategic Director at the Firoz Lalji Institute for Africa and Extraordinary Professor at North-West University in South Africa. Specialising in African trade policy and trade negotiations, Professor Luke has decades of experience in policy advisory services, managing and catalysing research, building partnerships, training and capacity development for private sector and government.
About the Chair
Ken Shadlen is Professor of Development Studies in the Department of International Development of the London School of Economics and Political Science. Ken works on the comparative and international political economy of development, with a focus on understanding variation in national policy responses to changing global rules.
This event will be available to watch shortly afterwards on LSE IDs YouTube channel.
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