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Trade and Investment in East AfricaPreferential Market Access, Foreign Aid, and Economic Development. A Case of the EU-ACP Preferential Trade Agreement

Trade and Investment in East Africa: Preferential Market Access, Foreign Aid, and Economic... [Several studies highlight that exporters in developing countries (LDCs) face substantial trade costs when exporting to developed countries (DCs). Thus, granting preferential market accessPreferential market access to LDCs by DCs is expected to play a pivotal role, especially in reducing trade costsTrade costs and ultimately promoting development in LDCs. Focusing on the EU-African, Caribbean and Pacific (ACP)African, Caribbean and Pacific (ACP)preferential market accessPreferential market access, we use the gravity modelGravity model to examine the trade effect of EU-ACPAfrican, Caribbean and Pacific (ACP) agreement conditional on foreign aidForeign aid. Our results show that EU-ACPAfrican, Caribbean and Pacific (ACP) is effective in promoting exports; however, only improves economic development if it is complemented with a sufficient level of foreign aidForeign aid.] http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png

Trade and Investment in East AfricaPreferential Market Access, Foreign Aid, and Economic Development. A Case of the EU-ACP Preferential Trade Agreement

Part of the Frontiers in African Business Research Book Series
Editors: Demena, Binyam Afewerk; Van Bergeijk, Peter A.G.
Afesorgbor, Sylvanus Kwaku
Trade and Investment in East Africa — Nov 2, 2022
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Publisher
Springer Nature Singapore
Copyright
© The Editor(s) (if applicable) and The Author(s), under exclusive license to Springer Nature Singapore Pte Ltd. 2022
ISBN
978-981-19-4210-5
Pages
41 –61
DOI
10.1007/978-981-19-4211-2_3
Publisher site
See Chapter on Publisher Site

Abstract

[Several studies highlight that exporters in developing countries (LDCs) face substantial trade costs when exporting to developed countries (DCs). Thus, granting preferential market accessPreferential market access to LDCs by DCs is expected to play a pivotal role, especially in reducing trade costsTrade costs and ultimately promoting development in LDCs. Focusing on the EU-African, Caribbean and Pacific (ACP)African, Caribbean and Pacific (ACP)preferential market accessPreferential market access, we use the gravity modelGravity model to examine the trade effect of EU-ACPAfrican, Caribbean and Pacific (ACP) agreement conditional on foreign aidForeign aid. Our results show that EU-ACPAfrican, Caribbean and Pacific (ACP) is effective in promoting exports; however, only improves economic development if it is complemented with a sufficient level of foreign aidForeign aid.]

Published: Nov 2, 2022

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