Factors Driving Industrialization in Africa: A Panel Two-Stage Least Square Approach

The study examined the factors that influence industrialization in Africa using annual panel data from 1990 to 2018. To avoid problems of endogeneity, we employed Two-Stage Least Square (TSLS) approach estimate significant determinants industrialization. We found foreign direct investment, total natural resources, and financial development significantly positively predicted Trade openness had a negative effect on Human capital inflation were not also demonstrate aspect an economy’s ability industrialize is synchronization public policies its external engagements. leverage importance contributions industrialization, governments various African economies should strive augment preserve explore more intensify development.