Thematic Focus for BoN
Annual Symposium 2008

THEME: Structural Transformation of the Namibian Economy: Insight from other Countries

Namibia can be described as a resource rich economy in the extractive industry base, yet noting the short life span of these resources; diversification becomes more important in realizing a sustainable growth path. Strong reliance on a single industry will only seek to heighten the economy’s vulnerability to commodity price fluctuations and the impact this would have on long term growth. According to the National Accounts (1996-2006), the prominent sectors contributing significantly to GDP during the period 2001-2006 have been mining (10.9%), wholesale and retail trade (10.9%), manufacturing (10.7%) and real estate and business services (9.1%).

The achievement of economic growth via sector specific strategies is one proposal of ensuring a sustainable growth path. This is especially convenient for developing economies that rely on resource industries to spur their economic agenda with benefits such as employment creation, broadening of the revenue base and optimizing on the benefits borne from international trade. In order to empirically investigate this theme, the annual symposium will consist of four focused papers discussed below.

Symposium Papers

“Overview of the Structural Transformation of the Namibian Economy":

The paper should be an introductory yet informative piece that will capture the country’s current growth agenda, presenting proposals supportive of diversification within the current structure. The paper would also provide an outline of the readiness of the labour market in supporting structural transformation of the Namibian economy. Some research questions could be the following: Is enough being done to promote growth in the sub-sectors? Which sub-sectors would do well by diversifying? What challenges is Namibia facing when it comes to optimally developing the sectors if any? What can labor markets and the governments do to ensure that they play a greater role promoting structural transformation?

By: Professor John Odada, University of Namibia, Windhoek, Namibia

“The Role of Economic Agents in Structural Transformation: Lessons from Mauritius “:

There exists an array of economic agents whose role in the economy could prove vital to promote structural transformation. These agents could be financial institutions, government and the private sector. Financial institutions such as Central Banks can have an important role to play in addition to their pre-designated roles of maintaining price stability and favorable economic conditions for economic growth. The experience of the Mauritian Central Bank lends support to the importance of these institutions in economic transformation and development. Their activist role emerged a key component in this realization, and developing economies such as Kenya are following suit.

Government through its various ministries could coordinate, monitor and evaluate new or existing sectoral programs that are targeted towards employment creation i.e. increasing the level of productivity and growth. The private sector, on the other hand, is known for its effectiveness in realizing the afore-mentioned objectives.

The paper should draw on literature that encompasses successful experiences from Mauritius that may provide some valuable lessons for Namibia. Some research questions could be the following: How can economic agents better impact on the structural transformation process? What challenges exist, and how can they be addressed? What have Mauritius done to strengthen the various roles of their economic agents?

By: Mr. Hemraz O Jankee,the Director of Research at the Bank of Mauritius, Mauritius

“Strategies and Policy Options Supportive of Structural Transformation of the Namibian Economy: Lessons from Korea":

The paper should draw on experiences of structural/economic transformation from Korea and identify strategies and policy prescriptions for Namibia. Hence the paper should be able to address questions such as what policy prescriptions will tally the lack of structural transformation experienced in the Namibian economy. What are the Korean experiences in promoting sector specific growth strategies and how can Namibia adopt them to suit its current economic structure?

By: Professor JiHong Kim, KDI School of Public Policy and Management, South Korea

“Strategies and Policy Options supportive of Structural Transformation of the Namibian Economy":

The paper should be representative of relevant and recent theoretical as well as empirical literature on cases of structural/economic transformation and be able to identify strategies and policy prescriptions for Namibia. Hence the paper should be able to address questions such as what policy prescriptions will tally the lack of structural transformation experienced. What are the experiences of other developing economies in promoting sector specific growth strategies and how can Namibia adopt them to suit its current economic structure?

By: Dr. Kava Katjomuise, United Nations Economic Commission for Africa, Addis Ababa, Ethiopia

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