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Common or Conflicting Interests? Reflections on the theme of Private Sector Development for Job Creation - A Debate

Common or Conflicting Interests? Reflections on the theme of Private Sector Development for Job Creation - A Debate. Franklyn Lisk University of Warwick, UK and CREPOL ACRIA 4, Abidjan 4-5 July 2013. Job Creation - Why the Private Sector ?. Conceptual Framework- perception, logic

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Common or Conflicting Interests? Reflections on the theme of Private Sector Development for Job Creation - A Debate

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  1. Common or Conflicting Interests? Reflections on the theme of Private Sector Development for Job Creation - A Debate Franklyn Lisk University of Warwick, UK and CREPOL ACRIA 4, Abidjan 4-5 July 2013

  2. Job Creation - Why the Private Sector ? • Conceptual Framework- perception, logic -Driver of economic growth -Structural transformation to sustainable development -Employment impact • ECOWAS Economies- current situation -Size and structure of the private sector • Stakeholders – vested interests -international, regional and national policy analysts; donors; business organisations

  3. Private Sector Development (PSD) – Which Private Sector? • Two conceptualisations of PSD -”promoting the development of the private sector “(indigenous actors – domestic resource mobilisation; MSMEs, informal sector ) -”engaging the private sector for development” (international actors –FDI, ODA; large infrastructure projects, extractive industries) • Two approaches – different development outcomes? different employment impacts? • Common or conflicting interests? Jobs; inclusive growth; industrialisation; sustainable development

  4. The Private Sector and Jobs : Where should the focus be? • Private sector-led development in ECOWAS economies – what to measure and how -Size and dynamism of the private sector and economic linkages -Investment and consumption patterns -Private sector as wage employer -Human capital – skills development -Technology and innovation -Comparative advantage versus competitiveness

  5. Employment and development Impact of PSD – Two Scenarios • MSME model -jobs and income-earning opportunities; inclusive growth and poverty reduction; sustainable development -drawback on revenue generation know-how to support economic transformation and growth • FDI model -injection of capital and technology to promote economic growth and modernisation -constraint on development of domestic private sector

  6. Two Approaches : Common or Conflicting Interests? • Towards a convergence – Not an ‘either or’ case: Achieving economic growth and structural transformation through investment, business expansion and employment -Directing investment towards MSMEs (access to credits, technology); -Leveraging international finance (FDI and ODA) for employment-oriented development agenda and to fill gap between domestic saving and investment -Strengthening economic linkages between two approaches -Tax justice and containing capital flight – case of the extractive industries

  7. What Governments should do to realise job potential of PSD • Knowledge and advice for clarity, focus and priority on policies and programmes for PSD • Commitment and action on development of MSMEs as a major development strategy –remove constraints and facilitate expansion • Leverage external financial flows for unleashing employment potential of infrastructure development and industrialisation • Optimise complementarities between the two approaches to PSD – working together and strengthening linkages • Engage macroeconomic policies to increase employment content of growth- globalisation, regional integration, fiscal consolidation

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