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by: Ismail Radwan, Giulia Pellegrini
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Nigeria has a bold national vision of becoming one of the
world’s top 20 economies by 2020. However, despite being the 8th
most populous country in the world, it ranks 41st in terms of GDP and
161st in terms of GDP per capita. Nigeria has long depended on oil for
its exports and government revenues. This dependence has led to rent
seeking and a reluctance to examine potential avenues for economic
diversification. The authors of Knowledge, Productivity, and
Innovation in Nigeria believe that the goal of becoming a
top-twenty economy can only be achieved if Nigeria makes the transition
to a new economy rooted in the 21st century that harnesses the power of
knowledge and avoids a static oil-based growth strategy.
Knowledge has always been central to development, but new
technologies have made it globally accessible. Countries such as the
Republic of South Korea, India, and the United States that have
exploited new technologies and know-how have pushed their innovation
and productivity frontiers. Countries that have failed to do so risk
remaining mired in poverty.
In order to achieve Vision 2020, Nigeria must move beyond the
stop-start patterns of oil-based development that have characterized it
since independence. It must create a stable and prosperous economy
based on a critical mass of knowledge workers. Knowledge, Productivity,
and Innovation in Nigeria examines how Nigeria can prepare for this
century and where its leaders can focus to achieve their vision,
presenting the experiences of other countries from which Nigeria can
learn.
- Shipping Weight: 0.7 lbs (0.32 kgs)
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