China's Belt and Road Initiative: Implications for intra‐regional trade in Africa

Abstract

This paper considers the prospects and promises of continent-wide infrastructure projects under China's Belt and Road Initiative (BRI), and its implications for intraregional trade and economic development in Africa. Building on the supply side theory of trade and economic development, and taking cognizance of the impacts of asymmetric market sizes on trade integration, this paper argues that continent-wide infrastructure projects are perhaps not the biggest constraints to intra-Africa trade.Consequently, the paper recommends caution in pursuing regional infrastructure projects under the BRI. Given that the economies of most African countries depend largely on natural resources, the BRI could be adopted strategically to establish and manage infrastructure projects that would relax the binding constraints to structural transformation and allow for the development of manufacturing and/or service capabilities in the respective countries, especially in niche areas. | INTRODUCTIONThis paper examines the potential of China's Belt and Road Initiative (BRI) to enhance intra-regional trade and economic development in Africa. The BRI is an ambitious plan by the Chinese government to

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“…Additionally, the lack of effective institutions in Africa has been identified as a critical challenge for enforcing business contracts and ensuring compliance with regulations (Atiase et al, 2017). Furthermore, the constraints to integration in Africa include inadequate enforcement mechanisms for physical and soft infrastructure, such as enabling laws and policies (Kalu et al, 2020). In contrast, the USA has been noted for its strict enforcement mechanisms, particularly in areas such as tax planning and corporate governance.…”

The role of environmental policies in shaping oil and gas operations: A comparative review of Africa and the USA

“…Additionally, the lack of effective institutions in Africa has been identified as a critical challenge for enforcing business contracts and ensuring compliance with regulations (Atiase et al, 2017). Furthermore, the constraints to integration in Africa include inadequate enforcement mechanisms for physical and soft infrastructure, such as enabling laws and policies (Kalu et al, 2020).…”