Afro-continental free trade areas and industrialisation in Africa: Exploring Afro-Canadian partnership for economic development

Oloruntoba, Samuel Ojo; Tsowou, Komi

doi:10.1080/11926422.2019.1650381

Cited by 9 publications

(4 citation statements)

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“…Standard errors in parentheses where ***, **, and * denote significance at the 1%, 5%, and 10% level respectively. All and above, the findings of the study are not only applicable for further academic and research inferences but most importantly consistent with facts and trends of industrialization processes in Africa in general and COMESA per se, where intra-trade are perceived as an engine for economic growth (Lalu, 2018;Oloruntoba & Tsowou, 2019).…”

Section: The Pmg and Mg Estimationsupporting

confidence: 82%

“…Additionally, the importance of industrialization provides opportunities for Africa to expand its value-addition potentials beyond the content to non-traditional markets as anchored on the AfCFTA (Oloruntoba & Tsowou, 2019) which implies that structural change and diversification of economy that favor industrial sector than agricultural or service sectors would matter most on accelerating the growth of GDP and development in large.…”

Section: Empirical Literaturementioning

confidence: 99%

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2020

Asian Development Policy Review

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This study examines the impact of intra-export on the industrialization in the Common Market for Eastern and Southern Africa (COMESA) over the period 2000-2018. The study used a heterogeneous dynamic Autoregressive Distributed-lag (ARDL), namely Pooled Mean Group (PMG) and Mean Group (MG) estimators. The results reveal that intra-export (lnEXT), internet (lnINT), and Human Development Index (lnHDI) have significant positive effects on the industrialization (lnMVA) in the long-run. The financial development Index (FD) exhibits a significant adverse impact on the lnMVA in the long-run, while only the lnINT confirms a significant adverse impact on the lnMVA in the short-run. The results support the established theoretical framework, particularly the endogenous approach, as well as the supply-side and demand-side capacities. These findings may provide some guidance on policies and strategies harmonization to address the supply-side and demand-side capacities, namely, the infrastructure (e.g. INT), human development and to promote industrialization in the region, ceteris paribus. Contribution/ Originality: This study is one of very few studies which have investigated the impact of Intratrade on industrialization through including both some major supply-side (i.e. HDI, Internet) and demand-side (i.e. Financial Development) multidimensional-measurements factors. We control individual heterogeneity by using most robust econometric technique i.e. the pooled mean group (PMG).

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Section: The Pmg and Mg Estimationsupporting

confidence: 82%

Section: Empirical Literaturementioning

confidence: 99%

Untitled

2020

Asian Development Policy Review

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“…The positioning of the research also departs from contemporary African development literature which has largely focused on, inter alia: nexuses between finance, remittances and industrialisation (Efobi et al 2019); remittances, the diffusion of information and industrialisation (Asongu and Odhiambo 2020); the importance of governance in development outcomes Nwokora 2016, 2018;; linkages between trade and industrialisation (Kaplinsky and Morris 2019;Oloruntoba and Tsowou 2019); green industrialisation (Okereke et al 2019) and financial reforms as the drivers of industrialisation (Folarin 2019). The rest of the study is structured as follows: Section 2 discusses the theoretical underpinnings and testable hypotheses.…”

mentioning

confidence: 97%

Governance, capital flight and industrialisation in Africa

Asongu

Odhiambo

2019

Economic Structures

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This study examines the role of governance in modulating the effect of capital flight on industrialisation in African countries. It is motivated by three main factors, namely the (i) growing trend of capital flight in Africa; (ii) relevance of governance in dampening negative macroeconomic signals such as capital flight; and (iii) lagging position of Africa in industrialisation. 1 First, as documented by Boyce (2012) who have provided an update on estimates of capital flight, over the past decades, Africa has experienced substantial capital outflows. For example, approximately 814 billion US Dollars (in constant of 2010 US Dollars) was lost by 33 sub-Saharan African (SSA) countries during the period 1970-2010. The lost sum to capital flight is higher than foreign direct investment and foreign aid which during the same period stood at respectively 306 billion and

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“…Also, the AfCFTA is envisaged to raise Africa's income levels and reduce poverty by raising productivity and boosting investment (Abrego, Amado, Gursoy, Nicholls, & Perez‐Saiz, 2019; Karingi & Mevel, 2013; Masiya, 2019; United Nations Economic Commission for Africa, 2018). Ultimately, the implementation of the AfCFTA is seen as one of solutions to the African challenges as well as continental integration process through Regional Economic Communities (RECs) in Africa (Oloruntoba & Tsowou, 2019).…”

Section: Introductionmentioning

confidence: 99%

Assessing the potential effects of the AfCFTA on togolese economy: An application of partial equilibrium model

Wonyra

Bayale

2020

Journal of Public Affairs

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Togo is one of the African countries to join spontaneously the African Continental Free Trade Area (AfCFTA), a new benchmark for trade development which seeks to provide a framework for the liberalization of trade in goods and services in Africa. Several economic opportunities are expected in Togo as a result of the implementation of the AfCFTA. This article provides insights on the potential implications of the AfCFTA Agreement for Togo in terms of trade, revenue and welfare effects. By applying the WITS‐SMART simulation model on 2018 disaggregated trade data, we find that, trade effects in Togo are likely to surge by US$ 8.83 million while promoting consumers' welfare by US$ 1.09 million. However, revenue losses are imminent as the country might experience a drop in tariff revenue of US$ 4.66 million. Overall, the AfCFTA is expected to improve on the country's trade balance as exports are envisaged to outweigh imports. In order to mitigate the revenue loses, we recommend that the country keeps substantial portion of tariff lines for sensitive and excluded products over a longer period during the liberalization.

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Afro-continental free trade areas and industrialisation in Africa: Exploring Afro-Canadian partnership for economic development

Cited by 9 publications

References 1 publication

Untitled

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Governance, capital flight and industrialisation in Africa

Assessing the potential effects of the AfCFTA on togolese economy: An application of partial equilibrium model

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