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Regional Integration, Trade and Industry in Africa (Hardcover, 1st ed. 2021)
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Regional Integration, Trade and Industry in Africa (Hardcover, 1st ed. 2021)
Series: Advances in African Economic, Social and Political Development
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This book examines the past, present and prospects of regional
economic integration in Africa. The empirical analysis ranges from
unions formed during the years following independence, to the
proposed African Continental Free Trade Area (AfCFTA), which aims
to remove trade barriers between all 55 African states. In
addition, the book explores to what extent Africa's Regional
Economic Communities (RECs) have advanced in accordance with a
linear integration model of goods, labor and capital markets. The
book subsequently evaluates the suitability of the European model
of deep integration with costly institutions for the conditions
specific to Africa, considering, for example, the role of informal
and non-recorded trade. Stylized cases of regional division of
labour with increasing returns and imperfect competition are
introduced to support the economic integration logic. Past and
current economic policies in Africa are scrutinized to answer the
question: how can African regions best foster new manufacturing
industries and value chains across the continent? In conclusion,
the book outlines content and processes of Common Industrial Policy
in the African regions. The book also addresses the controversial
issue of international trade agreements between developing
countries and the European Union or the USA and investigates
whether these agreements impede or promote economic development in
Africa. The book includes a detailed roadmap describing how to
improve key clauses of agreements for economic partnership in the
interest of African countries. In closing, it outlines a new vision
of joint sustainable development for Africa and Europe.
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