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This edited volume focuses on economic integration, currency union, and sustainable and inclusive growth in East Africa. It consists of twelve interrelated studies that provide a comprehensive picture of the state and determinants of economic development and cooperation among countries in East Africa, such as Burundi, Ethiopia, Kenya, Rwanda and Tanzania. The contributions are grouped into five parts: economic integration and its effects on trade; common currency and exchange rate; research, innovation, and knowledge, and shadow economics and corruption; inclusive and sustainable growth; and the conflict-growth nexus and reconstruction. This book will appeal to scholars and decision makers looking for the necessary tools and determinants of economic development and cooperation in East Africa.
The East African Community (EAC) has been among the fastest growing regions in sub-Saharan Africa in the past decade or so. Nonetheless, the recent growth path will not be enough to achieve middle-income status and substantial poverty reduction by the end of the decade—the ambition of most countries in the region. This paper builds on methodologies established in the growth literature to identify a group of countries that achieved growth accelerations and sustained growth to use as benchmarks to evaluate the prospects, and potential constraints, for EAC countries to translate their recent growth upturn into sustained high growth. We find that EAC countries compare favorably to the group of sustained growth countries—macroeconomic and government stability, favorable business climate, and strong institutions—but important differences remain. EAC countries have a smaller share of exports, lower degree of financial deepening, lower levels of domestic savings, higher reliance on donor aid, and limited physical infrastructure and human capital. Policy choices to address some of these shortcomings could make a difference in whether the EAC follows the path of sustained growth or follows other countries where growth upturns later fizzled out.
The African Continental Free Trade Area is expected to be a game changer for development ambitions in Africa.
Individual countries of the Maghreb have achieved substantial progress on trade, but, as a region they remain the least integrated in the world. The share of intraregional trade is less than 5 percent of their total trade, substantially lower than in all other regional trading blocs around the world. Geopolitical considerations and restrictive economic policies have stifled regional integration. Economic policies have been guided by country-level considerations, with little attention to the region, and are not coordinated. Restrictions on trade and capital flows remain substantial and constrain regional integration for the private sector.
This anthology presents issues, challenges and progress in Rwanda, Mauritius, Ethiopia, South Africa, and Uganda towards Africa's acknowledgement through Agenda 2063 of the need for inclusive and sustainable development, and its commitment to the Sustainable Development Goals (Agenda 2030) of the United Nations. Dictated by overall ever unfolding realities, including economic, social, political, technological issues, the growth and development dictums have been reshaped and reframed continually, in an effort to accommodate and respond to emerging issues. Human development and inclusive growth and development, within the overall theme of sustainable development, are, for example, among the recent focuses of the global and national development agenda. The background is that as individuals, communities, and societies get richer, the worrying levels of inequalities, exclusion and disparities are becoming an area of concern, drawing the attention of governments, planners, civil societies, researchers and academia. A predominant current issue has been an appreciation of high economic growth in the last 10 years, which is nonetheless marred by pervasive levels of poverty and inequality. The issues covered include: trade; rural-urban linkages; the dynamics of poverty, vulnerability, and welfare; social policies for inclusive and sustainable development; productivity and informality; and financial direct support systems to the poor. The chapters are based on first-hand data, secondary data from different databases and systematic reviews of academic literature. Drawing on the findings and conclusions of the individual chapters, the book distills together the key lessons and also puts forward recommendations for policy and practice. It is a resource for researchers, policy and decision makers, academia and graduate students.
This book explores foreign policy developments in post-colonial Africa. A continental foreign policy is a tenuous proposition, yet new African states emerged out of armed resistance and advocacy from regional allies such as the Bandung Conference and the League of Arab States. Ghana was the first Sub-Saharan African country to gain independence in 1957. Fourteen more countries gained independence in 1960 alone, and by May 1963, when the Organisation of African Unity (OAU) was formed, 30 countries were independent. An early OAU committee was the African Liberation Committee (ALC), tasked to work in the Frontline States (FLS) to support independence in Southern Africa. Pan-Africanists, in alliance with Brazzaville, Casablanca and Monrovia groups, approached continental unity differently, and regionalism continued to be a major feature. Africa’s challenges were often magnified by the capitalist-democratic versus communist-socialist bloc rivalry, but through Africa’s use and leveraging of IGOs – the UN, UNDP, UNECA, GATT, NIEO and others – to advance development, the formation of the African Economic Community, OAU’s evolution into the AU and other alliances belied collective actions, even as Africa implemented decisions that required cooperation: uti possidetis (maintaining colonial borders), containing secession, intra- and inter-state conflicts, rebellions and building RECs and a united Africa as envisioned by Pan Africanists worked better collectively.
This book presents a comprehensive analysis of regional integration in East Africa in the last century, reflecting the general trends of integration processes in the East Africa sub-region with a focus on the East African Community. Particular attention is paid to the cyclicality of integration dynamics, as well as the analysis of the interconnection and competition between different regional organizations in East Africa. In this context, the specificity of the so-called overlapping membership of African states in regional organizations with similar roles but conflicting treaties and mandates is explored. This situation to a certain extent affects the relations of states in the region with external actors specifically trade negotiations with EU that the book comprehensively analyses. This book therefore offers a deeper understanding of the processes of regional integration in East Africa that had been missed before, which reflects the general integration dynamics on the African continent.
FinTech is a major force shaping the structure of the financial industry in sub-Saharan Africa. New technologies are being developed and implemented in sub-Saharan Africa with the potential to change the competitive landscape in the financial industry. While it raises concerns on the emergence of vulnerabilities, FinTech challenges traditional structures and creates efficiency gains by opening up the financial services value chain. Today, FinTech is emerging as a technological enabler in the region, improving financial inclusion and serving as a catalyst for the emergence of innovations in other sectors, such as agriculture and infrastructure.
​This book presents a number of key studies pertaining to the most pressing challenges of economic regional integration in West Africa. The issues of monetary coordination, foreign exchange volatility, taxation, savings and macroeconomic convergence are investigated from a regional perspective. The characteristics of West Africa’s trade policy are reviewed and assessed in comparison to that of the Southern African Development Community (SADC). The extent to which regional integration can tackle the challenge of unemployment is the focus of studies on labour markets. Development of the private sector and coordination of regional cross-border transportation are examined through the lens of economic collaboration between Arab and African countries. The book provides fresh new answers to persistent development questions and sheds new light on long-held views that are either incomplete or no longer true. It also opens new perspectives on the search for sustainable avenues for Africa’s development. In this regard, it may contribute to the emergence of a new paradigm on Africa’s development process and its science-based, policy-oriented implementation.
This volume is a collection of selected empirical studies on determinants of economic growth in Africa. Grouped into three parts, chapters examine the influence of financial sources and economic growth; sources of productivity growth; and prices, exchange rates and trade relationships with growth in regions in Africa or the continent as a whole. This edited book is authored by African experts in the field who employ diverse up-to-date data and methods to provide robust empirical results based on representative firms, household surveys and secondary country level data covering individuals or multiple countries on the continent. It contains a wealth of empirical evidence, deep analyses and sound recommendations for policymakers and researchers for designing and implementing effective social and national policies and strategies to prevent and to reduce poverty and its negative effects on poor households and in poor regions. The volume will be a useful resource for policymakers and researchers involved in promoting economic growth and fighting poverty. It will also appeal to a broader audience interested in economic development, resource economics, policies, economic welfare and inclusive growth.