n AfricaGrowth Agenda - Trade competitiveness, growth and inequality in sub-Saharan Africa : why internal openness matters

Volume 2010, Issue 10
  • ISSN : 1811-5187


Globalization and regional integration have transformed the world economy in the past 50 or more years. Trade for example, has served as an important engine of economic growth for many economies including the newly industrializing countries of Southeast Asia. On balance, these processes have been and will continue to be beneficial to those affected by them. But Africa as usual, seems to be a loser in international trade and it looks like the trend is likely to continue into the future. Africa's share in international trade had been declining over the last two decades. Africa is not able to take great advantage of available opportunities under such preferences as the African Growth Opportunity Act (AGOA) and Everything-but-Arms (EBA), despite the many efforts at macroeconomic reforms and trade liberalization (Africa Progress Panel, 2010).

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