246 Pages
English

Industrial and Development Economics

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The aim of this book is to provide comprehensive understanding of industrial economics and its applicability to African countries. The book is expected to serve as an intellectual and pedagogical support to teaching. It is a vital resource material for both undergraduate and post-graduate students. The text is also excellent for self-study for all people with a keen interest in the discipline because of the unique approach adopted by the author. Each chapter is arranged pedagogically starting with learning objectives followed by introductory remarks, then content and finally conclusion. Numerous relevant examples, case studies and review questions are provided.

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Published 19 July 2017
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EAN13 9782869787391
Language English
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Industrial and Development Economics
This book is a product of the CODESRIA Textbook Programme.
Industrial and Development Economics
An African Perspective
Stephen M. Kapunda
Council for the Development of Social Science Research in AfricaDAKAR
©CODESRIA 2017 Council for the Development of Social Science Research in Africa Avenue Cheikh Anta Diop, Angle Canal IV BP 3304 Dakar, 18524, Senegal Website: www.codesria.org ISBN: 9782869787155
All rights reserved. No part of this publication may be reproduced or transmitted in any form or by any means, electronic or mechanical, including photocopy, recording or any information storage or retrieval system without prior permission from CODESRIA.
Typesetting: Alpha Ousmane Dia Cover Design: Ibrahima Fofana
Distributed in Africa by CODESRIA Distributed elsewhere by African Books Collective, Oxford, UK Website: www.africanbookscollective.com
The Council for the Development of Social Science Research in Africa (CODESRIA) is an independent organisation whose principal objectives are to facilitate research, promote researchbased publishing and create multiple forums geared towards the exchange of views and information among African researchers. All these are aimed at reducing the fragmentation of research in the continent through the creation of thematic research networks that cut across linguistic and regional boundaries.
CODESRIA publishesAfrica Development, the longest standing Africa based social science journal;Afrika Zamani, a journal of history; theAfrican Sociological Review; the African Journal of International Affairs;Africa Review of Booksand theJournal of Higher Education in Africa. The Council also copublishes theAfrica Media Review;Identity, Culture and Politics: An AfroAsian Dialogue;The African Anthropologist, Journal of African Tranformation, Method(e)s: African Review of Social Sciences Methodology,the and Afro Arab Selections for Social Sciences. The results of its research and other activities are also disseminated through its Working Paper Series, Green Book Series, Monograph Series, Book Series, Policy Briefs and the CODESRIA Bulletin. Select CODESRIA publications are also accessible online at www.codesria.org.
CODESRIA would like to express its gratitude to the Swedish International Development Cooperation Agency (SIDA), the International Development Research Centre (IDRC), the Ford Foundation, the Carnegie Corporation of New York (CCNY), the Norwegian Agency for Development Cooperation (NORAD), the Danish Agency for International Development (DANIDA), the Rockefeller Foundation, the Open Society Foundations (OSFs), TrustAfrica, UNESCO, the African Capacity Building Foundation (ACBF), The Open Society Initiative for West Africa (OSIWA), The Open Society Initiative for Southern Africa (OSISA), Andrew Mellon Foundation, and the Government of Senegal for supporting its research, training and publication programmes.
Contents
Acknowledgementsvii ....................................................................................................................................................................... Prefaceix ......................................................................................................................................................................................................... About the Authorxi .............................................................................................................................................................................
 1. 2. 3. 4.
 5. 6.
 7. 8.
 9.10.
I Theoretical Foundations Industrial Economics: An Introduction 3 ........................................................................................... Framework of Analysis of Industrial Economics 9 .................................................................... Theories of the Firm and Internal Organisation 17 ................................................................. Market Structure 25 ......................................................................................................................................................
II Analysis of Pricing Practices and Strategic Firm Behaviour Pricing Practices and Strategies of Firms 41 ...................................................................................... NonPrice Strategies 69 .............................................................................................................................................
III Industrial Location and Finance: Theory and Practice Industrial Location: Theory and Practice 99 .................................................................................... Industrial Finance: Theory and Practice 113 ...................................................................................
IV Public Policy and Industrial Development in Africa Public Policy for Industrial Development in Africa 135 .................................................... Industrial Development in Africa 179 .....................................................................................................
References197 ........................................................................................................................................................................................... Index207 ......................................................................................................................................................................................................
Acknowledgements
I would like to thank the Council for the Development of Social Science Research in Africa (CODESRIA) for awarding and motivating me to write this book. I am also grateful to my industrial economics students at the University of DaresSalaam, Tanzania, MA students at Joint Facility for Electives (JFE)/ African Economic Research Consortium (AERC), Nairobi, Kenya and the industrial economics students at the University of Botswana. Although all of them contributed unknowingly to the development of this textbook, the more recent students contributed more since I taught them simultaneously with writing the book. Their feedback through questions and comments contributed significantly by way of inspiring the revision and hence the clarity of some of the material. Thanks also go to the lecturers and administrators at various tertiary institutions for their valuable suggestions and/or other forms of cooperation. Special lecturers and administrators include Prof S. M. Wangwe, Prof A. Mbelle, Prof R. Mabele, Dr L. Rutasitara, Dr A. Mkenda, and Dr J. Aikaeli (University of Dar es Salaam); Dr F. Mutasa (Open University of Tanzania); Prof B. Ndulu, Prof D. Rwegasira and Prof. W. Lyakurwa (JFE/AERC, Nairobi); Profs H. Siphambe, N. Narayana, O. Galebotswe, I. Mogotsi and P. Makepe (University of Botswana); Dr E. Kaakunga and Dr KakujaMatundu (University of Namibia). I am also grateful to all reviewers whose positive suggestions and guidance made me revisit and improve on the weak part of the book. Great thanks go to all the other people not mentioned by name, who directly or indirectly contributed positively to the development of this book. Last, but not least, my sincere gratitude goes to my wife, Judith, for her support through our joint prayer and her patience during my long absence while I was writing this textbook.
Preface
Most textbooks on industrial economics use examples from Europe, the USA, and other more advanced countries; very rarely from SubSaharan Africa. This book attempts to fill the implied gap. The original material was first used by the author in a series of lectures mainly at the University of DaresSalaam (19761999) and the University of Botswana (20002014). The material was expanded and modernised thereafter by updating it and enriching it through inputs from various lecturers of industrial economics, especially from the University of DaresSalaam (Tanzania), Open University of Tanzania, University of Nairobi (Kenya), University of Botswana, University of Namibia, University of Malawi, and NorthWest University (South Africa). The book includes the most recent knowledge and research output in industrial economics and development. Some aspects of industrial development are included, firstly, to capture immediately some important development issues since traditional industrial economics should basically be regarded as an input toindustrial development or industrialisation. Second, if the two discipline branches are separated, students tend, over time, to forget these links and material flow. Third, some universities like the University of Botswana, University of Dar esSalaam and Open University of Tanzania follow this approach in teaching industrial economics. Last, but not least, the new title was also accepted by the Council for the Development of Social Science Research in Africa (CODESRIA). Although the book is essentially intended for undergraduate students, some of the material can benefit postgraduate students. Most of the mathematical appendices and most of parts III and IV are primarily for postgraduate students; but some resourceful undergraduate students may find them useful too. The general aim of the book is to provide comprehensive understanding of industrial economics and its applicability to African countries. The book is expected to serve as an intellectual and pedagogical support to teaching. This textbook has four parts. The first part provides the theoretical foundations and has four chapters: Industrial Economics: An Introduction; Framework of Analysis of Industrial Economics; Theories of the Firm and Internal Organisation;