THE AFRICAN CONTINENTAL FREE TRADE ZONE: AN ANALYSIS USING EXTERNAL CONSTRAINTS
Keywords:
Free Trade Zone, External Constraint, Development Of Inter-African Trade, Fragile Currencies, Development Of Production NetworksAbstract
This article attempts to verify, through an external constraint analysis, whether the establishment of a continental free trade area is favorable to all African countries. By specifying ordinary least squares error-correction models from 1981 to 2017, we show that some sub-Saharan African countries run trade deficits and are therefore subject to an external constraint. Countries with fragile currencies are exposed to exchange rate instability.
References
Adda, J. (2002). La mondialisation de l'économie tome 2. Paris: La Découverte.
Bank, M. (2008). World Development Report. Washington: De Boeck. Bank, M. (2009). World development report. Washington: De Boeck.
Békolo Ebé, B. (2001). "Regional integration in Africa: characteristics, constraints and prospects".
De Boeck Supérieur "Mondes en Développement" 2001/3 n°115-116, p. 81-88.
Békolo-Ebé (1977). Inter-African economic integration and relations. Assessment and prospects. Thesis, Paris 1.
Bonnaz, H., & Paquier, O. (1993). "Les échanges extérieurs de la France depuis 1980", in Economie & Prévision, No 107, 1993-1. Etudes internationales, pp. 105-117.
Brochart, F. (1988). "Performance à l'exportation", in Stratégies de développement comparées: Zone franc et hors zone franc, pages 453-473. Paris: Economica.
Cadot, O., & al. (2009). "Trade Diversification, Income and Growth: What Do We Know?". Etudes et Documents no E2009.31, CERDI, Université d'Auvergne, Clerment-Ferrand.
Cadot, O., & al. (2011). "Export Diversification: What's Behind The Hump?". Review of Economics and Statistics, MIT Press, 93(2), pp. 590-605.
Capul, J. Y., & Garnier, O. (2008). Dictionary of economics and social sciences. Paris: Hatier. Catão,
L. A. (2007). "What is the real exchange rate for?". Finance and Development, IMF, September.
CEA. (2006). State of Regional Integration in Africa II: Streamlining Regional Economic Communities.
Addis Ababa, Ethiopia.
CEA. (2013). African economic development report.
CEA. (2015). Economic report on Africa2015: industrialization through trade.
United Nations Economic Commission for Africa.
CEA, & BSR. (2012). Regional integration in West Africa: Regional agricultural value chains to integrate and transform the agricultural sector. Economic Commission for Africa.
UNCTAD. (2000) "Liberalization of international trade and implications for diversification in Africa". In La compétitivité future des économies africaines, Alioune Sall (dir), Futurs africains, Karthala and ed. Sankoré.
UNCTAD. (2009). Economic Development in Africa: Strengthening Regional Economic Integration for Africa's Development. United Nations, New York and Geneva.
UNCTAD. (2013). Intra-African trade: unleashing the dynamism of the private sector. Geneva: United Nations, September 16-27.
Cottet, C., & al. (2012). Export diversification in the franc zone: Degree, sophistication and dynamics. Macroéconomie et Développement, Agence française de développement, April.
Coussy, J. (2001). "Political economy of regional integrations: a historical approach". De Boeck Université/Mondes en Développement 2001/3 n°115-116, p. 15-26.
AUC/CEA. (2017). Illicit financial flows: report of the high-level panel on illicit financial flows from Africa. African Union Commission and United Nations Commission for Africa.
Delas, J. P. (2008). Economie contemporaine. Paris: Ellipses, Edition Marketing S.A.
Dieye, C. (2016). "Africa and the overlap of regional agreements." in D'un régionalismeà l'autre: Intégration ou interconnexion? Mathieu, A. et ali (dir) Revue interventions économiques 55/2016.
Easterly, W. (2006). Are poor countries doomed to stay? Paris: Nouveaux Horizons.
Emlinger, C., & al. (2015). Les Profils Pays du CEPII : indicateurs, bases et nomenclatures CEPII Panorama n° 2015-M-01-22 juin. CEPII.
FAO. (2015). Developing sustainable food value chains: Guiding principles. Rome. IMF. (2016). World Economic Outlook: Moderate demand - symptoms and remedies.Washington.
Fofack, H. (2018). "A competitive Africa". Finances et Développement, December, pp. 48-51. Francq, T., & Oliveira, M. J. (1999). "Aspects of external constraint. General presentation". In
Economie & Prévision, No 94-95, 1990-3-4. pp 1-4.
Guillaumont, P., & Guillaumont, S. (1988). "La stratégie de développement des pays africains de la zone franc comparée à celle des autres pays en développement", in Stratégies de développement comparées: Zone franc et hors zone franc, pages 63-155. Paris: Economica.
Hugon, P. (1999). "Free trade agreements with southern and eastern Mediterranean countries between regionalization and globalization". Revue Région et Développement.
Kaplinsky, R., & Morris, M. (2002). "A Handbook for Value Chain Research". Institute of Development Studies, University of Sussex, Brighton.
Lafay, G., & Siroen, J. M. (1994). Maîtriser le libre-échange. Economica, Paris.
Montoussé, M., & Camblay, D. (2009). 100 fiches pour comprendre les sciences économiques. Bréal.
Marchand Blanchet, F. (1998). "Une approche de compétitivité-prix de la zone euro: le taux de chnage effectif de l'euro". Bulletin de la Banque de France, No 60, December.
Mucchielli, & al (2000) "Investissements directs à l'étranger des multinationales françaises et relations commercilaes avec leurs filiales: Une analyse sur données individuelles d'entreprises" Revue Economique n°51(3), p 747-760 .
Niang, A., & Adjovi, E. G. (2015). "The potential benefits of the African Continental Free Trade Area for ECOWAS countries". Aliou Niang and Epiphane G. Adjovi, "Les bénéfices potentiels de la Zone de libPasserelles, vol. 16, n° 2, pp. 11-13.
OECD. (2013). Interconnected economies: How to benefit from global value chains . OECD Publishing, Paris. OECD, & WTO. (2013). Aid for trade panorama 2013: Connecting to value chains. OECD, Paris.
Ofa, S. V., & Karingi, S. (2013). "Trade in intermediate inputs and trade: facilitation in Africa's regional integration". African Economic Conference, Johannesburg, October 28-30.
OMC. (2004). World Trade Report.
Plane, P. (1988). "L'évolution tendancielle des taux de change". Paris: In Stratégies de développement comparées: Zone franc et hors zone franc, Economica, pages 273-289.
Rainelli, M. (2015). Les grandes théories du commerce international. Paris: La Découverte. Riccardo, P. (1995). Critique de la compétitivité. Problèmes économiques.
Sapir (1993). "Le régionalisme et la nouvelle théorie du commerce internationl sonnent-ils le glas du GATT?" . In Politique étrangère, n 2 58e année pp 277-293.
Weeks, J. (1996). "Regional Cooperation and Southern African Development". Journal of Southern African Studies 22 (1) pages 99-117.
Downloads
Published
Issue
Section
License
Copyright (c) 2024 Leon Mayeko (Author)
This work is licensed under a Creative Commons Attribution-NonCommercial 4.0 International License.
