Industrialization Lessons to Africa and Other Developing Economies

Economies around the world have different industrialization experiences. Only a few countries are successful in transforming their economies. Majority of countries are unsuccessful and still in a backward agrarian economic system. The purpose of this paper is to explore industrialization lessons that could be adapted to Africa and other developing countries. Some economies that represent industrialized and developing economies are selected purposively. Different literatures are explored to articulate important lessons. The result confirmed that government’s commitment, role, and timing of industrial policy implementation are important factors of industrial achievements. However, natural resources endowments are not found to be a precondition of industrialization. This paper employed secondary sources and further research on primary sources are acclaimed.