Trade Liberalisation and Economic Development in Africa

This book provides a comprehensive and rigorous analysis of the impact of trade liberalisation on economic development,with a special focus on the African continent. It argues that trade liberalisation has failed to yield meaningful benefits to Africa due to binding constraints and blockages,and provides practical strategies for gaining from trade liberalisation.

Format: Paperback / softback
Length: 238 pages
Publication date: 31 May 2023
Publisher: Taylor & Francis Ltd

This comprehensive and in-depth book delves into the profound impact of trade liberalization on economic development, with a specific focus on the African continent. The author presents a compelling rationale for trade liberalization, explores various trade liberalization frameworks, examines the intricate relationship between trade liberalization and economic development, identifies impediments to trade, and addresses contemporary issues in international trade.

Despite the potential benefits associated with trade liberalization, the author highlights a concerning trend in African trade. Despite the continent's abundant natural resources and growing population, African trade as a share of global trade has remained stagnant at 3% since 1975. Moreover, the continent's exports primarily consist of raw materials, while intra-regional trade accounts for less than 15% of total trade, which is the lowest in the world.

Contrary to conventional beliefs, this book reveals that trade liberalization in Africa has paradoxically led to high levels of unemployment and low economic growth, ultimately exacerbating poverty. It provides a detailed analysis of the factors contributing to the failure of trade liberalization to yield meaningful benefits to Africa. The book identifies the binding constraints and blockages that hinder positive spin-offs on trade liberalization in the continent, offering practical strategies for African countries to leverage trade liberalization for their economic growth and development.

This work is a valuable resource for African governments, academia, trade experts, regional trading blocs, the World Trade Organization, and development partners. It offers insightful case studies and practical recommendations to facilitate Africa's integration into the global economy and achieve sustainable development. As part of disruptive and structural transformation policies, this book contributes to the ongoing debate on trade liberalization and its implications for different regions and countries.

Weight: 453g
Dimension: 234 x 156 (mm)
ISBN-13: 9780367749118