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Rethinking Trade Preferences: How Africa Can Diversify its Exports

Rethinking Trade Preferences: How Africa Can Diversify its Exports This paper argues that the contribution of trade preferences to economic development needs to be reappraised in light of the growth of globalised trade in manufactures. Trade preferences may be able to act as a catalyst for manufacturing exports, leading to rapid growth in exports and employment. To do so, preferences need to be designed to be consistent with international trade in fragmented ‘tasks’ (as opposed to complete products) and need to be open to countries with sufficient levels of complementary inputs such as skills and infrastructure. Recent experience with the African Growth and Opportunities Act shows that, in the right conditions, Sub‐Saharan African countries have had large manufacturing export supply response to trade preferences. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png The World Economy Wiley

Rethinking Trade Preferences: How Africa Can Diversify its Exports

The World Economy , Volume 30 (8) – Aug 1, 2007

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References (36)

Publisher
Wiley
Copyright
Copyright © 2007 Wiley Subscription Services, Inc., A Wiley Company
ISSN
0378-5920
eISSN
1467-9701
DOI
10.1111/j.1467-9701.2007.01042.x
Publisher site
See Article on Publisher Site

Abstract

This paper argues that the contribution of trade preferences to economic development needs to be reappraised in light of the growth of globalised trade in manufactures. Trade preferences may be able to act as a catalyst for manufacturing exports, leading to rapid growth in exports and employment. To do so, preferences need to be designed to be consistent with international trade in fragmented ‘tasks’ (as opposed to complete products) and need to be open to countries with sufficient levels of complementary inputs such as skills and infrastructure. Recent experience with the African Growth and Opportunities Act shows that, in the right conditions, Sub‐Saharan African countries have had large manufacturing export supply response to trade preferences.

Journal

The World EconomyWiley

Published: Aug 1, 2007

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