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Trade and Investment in East AfricaTrade and Investment in East Africa: Introduction, Overview, and Implications

Trade and Investment in East Africa: Trade and Investment in East Africa: Introduction, Overview,... Chapter 1 Trade and Investment in East Africa: Introduction, Overview, and Implications Binyam Afewerk Demena and Peter A. G. van Bergeijk 1.1 Introduction East Africa as a region is increasingly attracting attention, especially in view of its significant achievements since the turn of the Millennium. 1.1 Figure illustrates these steady improvements in the level of development in terms of Gross National Income (GNI) for the African Great Lakes region, where (with the clear exception of Burundi) the standard of living markedly improved. In particular, the outperformance of the average for Eastern and Southern Africa is noteworthy. Based on these developments, reclassification into ‘higher’ income groups is to be expected, such as in Kenya in 2014, and in 2020 when the World Bank upgraded Tanzania to the status of a lower middle-income country The reclassifications . first of all are achievements and will enhance Kenya’s and Tanzania’s country profiles. This is an asset for attracting Foreign Direct Investment (FDI) and will also add further strength to the key productive sectors with considerable trade potential. The upgrade from lower to middle-income country will, however, have an impact on concessional finance as well, because donor countries may prioritize other countries for their http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png

Trade and Investment in East AfricaTrade and Investment in East Africa: Introduction, Overview, and Implications

Part of the Frontiers in African Business Research Book Series
Editors: Demena, Binyam Afewerk; Van Bergeijk, Peter A.G.
Demena, Binyam Afewerk; van Bergeijk, Peter A. G.
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
3 –19
DOI
10.1007/978-981-19-4211-2_1
Publisher site
See Chapter on Publisher Site

Abstract

Chapter 1 Trade and Investment in East Africa: Introduction, Overview, and Implications Binyam Afewerk Demena and Peter A. G. van Bergeijk 1.1 Introduction East Africa as a region is increasingly attracting attention, especially in view of its significant achievements since the turn of the Millennium. 1.1 Figure illustrates these steady improvements in the level of development in terms of Gross National Income (GNI) for the African Great Lakes region, where (with the clear exception of Burundi) the standard of living markedly improved. In particular, the outperformance of the average for Eastern and Southern Africa is noteworthy. Based on these developments, reclassification into ‘higher’ income groups is to be expected, such as in Kenya in 2014, and in 2020 when the World Bank upgraded Tanzania to the status of a lower middle-income country The reclassifications . first of all are achievements and will enhance Kenya’s and Tanzania’s country profiles. This is an asset for attracting Foreign Direct Investment (FDI) and will also add further strength to the key productive sectors with considerable trade potential. The upgrade from lower to middle-income country will, however, have an impact on concessional finance as well, because donor countries may prioritize other countries for their

Published: Nov 2, 2022

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