oa The Constitution - The Africa growth and opportunity act: the dynamics and possibilities for sub-Saharan Africa
|Article Title||The Africa growth and opportunity act: the dynamics and possibilities for sub-Saharan Africa|
|© Publisher:||Centre for Constitutionalism and Demilitarisation, Nigeria|
|Affiliations||1 Department of Political Science, University of Lagos|
|Publication Date||Dec 2007|
|Pages||20 - 42|
|Keyword(s)||Africa, African Growth and Opportunity Act, AGOA, Sub-Saharan Africa, Trans-continental trade and United States|
This paper examines the African Growth and Opportunity Act (AGOA) and its relevance or otherwise for sub-Saharan Africa region. Given the fact that AGOA is a useful tool of trade and investment on the part of the United States, the paper argues that the policy frame-work is capable of not only stimulating growth and development of the sub-region but also supporting the democratisation process by increasing the prosperity of the citizenry. Using the theoretical purview of the communication theory, the paper perceives the volume of trans-continental trade between sub-Saharan Africa and the United States as an index of ""transsactionalism"". It argues that the higher the index of transnational ""transactionalism"" between each subscribing sub-Saharan African country and the United States, the healthier the relationship vice-versa. Using both Nigeria and South Africa as analytical variables, the paper contends that the stronger the industrial and manufacturing base of a country that is participating in the programme, the better the benefits it will receive through AGOA. It concludes that given the specific reality of the economies of sub-Saharan Africa, the region stands to gain from the opportunities that AGOA avails.
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