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The rapid growth of its population presents both opportunities and challenges to the African continent. In order for the demographic dividend to be harnessed, African countries' youthful populations need to find productive work. Unfortunately, labour market outcomes on the continent tend to be relatively poor, and while there has been a shift towards the services sector as a potential engine for future economic growth, development and - critically - jobs, it is debatable as to whether the services sector can generate jobs of the quantity or quality required to raise incomes. In this paper, we argue that the economic complexity framework, with its associated mapping of products within the product space, provides a useful lens through which to view industrial policymaking. By focusing more narrowly on specific products identified through the economic complexity methodology, it is argued that policymakers can be presented with a more targeted menu of policy recommendations aimed at resolving very specific problems within economies. By successfully addressing capability constraints, policy can have a potentially greater impact on the accumulation of capabilities and economic diversification, unlocking the potential of manufacturing as a source of economic dynamism and job creation.

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Asia-Pacific Economic Cooperation (APEC) economies encompass a wide range of socio-economic profiles - poor to rich, young to old, regulated to free market. How economies and regions manage demographic change will define their success in what will be an 'ageing century'. This overview paper on the role of demographic change on labour force and economic growth in APEC uses a supply-side, gross domestic product (GDP) accounting framework to decompose the contribution of population, participation, and productivity to GDP per capita (the 3Ps). The authors use this modelling to examine historic and projected demographic and macro-economic trends to inform policy discussions and decisions. The authors begin by presenting this framework and the central projections. The following sections discuss each of the above-mentioned three contributors to growth in turn. The paper concludes by summarising the findings and policy responses.

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There is great opportunity for potential growth in Africa, however, there is also the increasing challenge of promoting growth that is job-creating. It is evident that the continent has much potential to achieve the long-term growth that is necessary for reducing inequality and alleviating poverty. In order to do this, there are key pitfalls that need to be addressed, most importantly, infrastructure development and improved governance and rule of law.

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