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In this study we analyze the evolution of economic development in 6 areas and 38 countries of Africa for the period 2000-2010. We find that industrialization in Africa shows little increase with an average value added of Manufacturing per head, at constant prices, of only 278 in year 2000 and 282 in year 2010, clearly below World average.
Northern Africa and Southern Africa are the areas with the highest levels in Africa, but with relatively low values, below 1000 Dollars per head, in comparison with World average. North West Africa and Eastern Africa have low values although with a positive evolution for that period, while Sahel-Central Africa and North East Africa show very low values and stagnation for the period 2000-2010. We find that it is of great importance to foster the educational level of human capital, health assistance, infrastructures and conditions to favour industrial development and tourism in many countries and areas of Africa. As seen in this and other studies, empirical evidence shows the great importance of Kaldor´s views on the positive impact of industrialization on economic development. We estimate an econometric model that shows the positive impact of manufacturing on economic development of African countries. International cooperation through foreign investment and official development aid is interesting but we must have into account other ways of international cooperation like private foundations, foreign trade of goods and tourism, accordingly to Guisan, Aguayo and Exposito(2015), and other studies that quantify and analyze several ways of international cooperation to foster socio-economic development in low income countries.
Keywords: Kaldor, Industry, Manufacturing, African countries, Development for 2000- 2010, Econometric Model.
JEL codes: C5, L6, N16, O14, O51, O54
