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Record Nr. |
UNINA9910906292203321 |
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Autore |
Ocran Matthew Kofi |
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Titolo |
The Palgrave Handbook of International Trade and Development in Africa |
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Pubbl/distr/stampa |
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Cham : , : Palgrave Macmillan, , 2024 |
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©2024 |
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ISBN |
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Edizione |
[1st ed.] |
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Descrizione fisica |
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1 online resource (529 pages) |
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Altri autori (Persone) |
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Disciplina |
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Lingua di pubblicazione |
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Formato |
Materiale a stampa |
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Livello bibliografico |
Monografia |
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Nota di contenuto |
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Intro -- Contents -- Notes on Contributors -- List of Figures -- List of Tables -- List of Boxes -- Part I: Overview -- Chapter 1: Introduction to International Trade and Development in Africa -- 1.1 Introduction -- 1.2 The Future of International Trade -- 1.3 Purpose of the Book -- 1.4 Overview of the Chapters -- 1.4.1 Part II: General Background and Governing Issues -- 1.4.2 Part III: Trade Finance and Payment Systems -- 1.4.3 Part IV: Trade and Economic Performance -- 1.4.4 Part V: Emerging Issues -- 1.5 Concluding Remarks -- References -- Part II: General Background and Governing Issues -- Chapter 2: Africa's New Landscape for Doing Business: The African Continental Free Trade Area -- 2.1 Introduction -- 2.2 The Africa Trade Problem -- 2.3 Overview of the African Continental Free Trade Area -- 2.3.1 Core Mandate of the AfCFTA -- 2.3.2 Strategic Objectives of the AfCFTA -- 2.3.3 Operational Objectives of the AfCFTA -- 2.4 Potential Socio-economic Benefits of the AfCFTA -- 2.5 Potential Challenges Associated with the AfCFTA -- 2.6 The Multifaceted Roles of the AfCFTA -- 2.6.1 The Role of AfCFTA in Resilient and Sustainable Trade amidst COVID-19 Pandemic -- 2.6.2 The Role of AfCFTA in Promoting Intra-African Trade -- 2.6.3 The Role of Technology in Facilitating the Implementation of the AfCFTA -- 2.6.4 The Role of the AfCFTA in Global Trade Relations and International Business -- 2.6.5 The Role of Public-Private Partnerships in Driving the Success of the AfCFTA -- 2.7 Exploring the Broader Impact of the AfCFTA -- |
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2.8 Conclusion and the Future of Doing Business in Africa -- References -- Chapter 3: Impact of Political and Legal Environments on International Trade -- 3.1 Introduction -- 3.2 Overview of International Trade -- 3.2.1 Classification of International Trade -- International Trade Operations -- Strategic Alliances. |
Foreign Direct Investments -- 3.3 Theories of International Trade -- 3.3.1 Classical or Country-Based Theories of International Trade -- Mercantilism Theory -- Absolute Advantage Theory -- Comparative Advantage Theory -- Factor Proportions Theory (Heckscher-Ohlin Theory) -- 3.3.2 Modern or Firm-Based Theory -- Country Similarity Theory -- Global Strategic Rivalry Theory -- Porter's National Competitive Advantage Theory -- 3.4 Drivers of International Trade: Political and Legal Drivers Affecting International Trade -- 3.4.1 Political Impact on International Trade -- Government Policy and Political Ideology -- Political Stability -- Restrictions on Imports -- 3.4.2 Legal Impact on International Trade -- The Type of Legal System -- Intellectual Property Rights (IPR) -- Labor Laws -- 3.5 The Role of Multilateral and Bilateral Institutions in International Trade -- 3.5.1 Multilateral Institutions -- World Trade Organization (WTO) -- International Monetary Fund (IMF) -- World Bank -- 3.5.2 Bilateral Institutions -- Free Trade Agreements -- Custom Unions -- Bilateral Investment Treaties (BITs) -- 3.6 Conclusion -- References -- Chapter 4: Trade and the Labour Market in Africa -- 4.1 Introduction -- 4.2 Theoretical Review: Theory and Empirics -- 4.2.1 Bargaining and Firm Heterogeneity Theory -- 4.2.2 Empirical Literature -- 4.3 Stylized Facts on Trade and the Labour Market in Africa -- 4.4 How Can Regional Integration Facilitates the Labour Market in Africa? -- 4.5 Conclusion and Policy Recommendations -- References -- Chapter 5: Structure, Composition, and Trends in African Trade -- 5.1 Introduction -- 5.2 Africa's Trade and Its Composition-Pre- and Post-Independence -- 5.3 Intra-African Trade-Key Drivers in Terms of Country and Product -- 5.4 Current Dynamics in African Trade and the Rise of South-South Trade -- 5.4.1 The Rise of South-South Trade. |
5.4.2 Current Dynamics in African Trade and the Rise of South-South Trade -- 5.5 The Case for Industrialization and Value Addition -- 5.5.1 Global Trade and Value Additions -- 5.5.2 African Trade and Industrialization -- 5.6 The Promise of the AfCFTA -- 5.6.1 The Objectives of AfCFTA -- 5.6.2 Benefits of the AfCFTA -- 5.7 Conclusion -- References -- Chapter 6: Energy and International Trade in Africa -- 6.1 Introduction -- 6.2 Sources of Energy in Africa -- 6.3 Structure of Energy Finance in Africa -- 6.3.1 Capital -- 6.3.2 Instruments -- 6.3.3 International Financial Flows -- 6.3.4 Structure of Finance -- 6.3.5 Blended Finance -- 6.4 Energy Trade Dynamics in Africa -- 6.4.1 Energy Imports in Africa -- 6.4.2 Energy Exports in Africa -- 6.5 Energy Security and International Trade in Africa -- 6.5.1 Potential African Energy Trade with Europe -- 6.6 Challenges of Energy Security and Trade in Africa -- 6.6.1 Population Growth -- 6.6.2 Rapid Industrialization -- 6.6.3 Growing Debt Burden -- 6.6.4 Climate Change -- 6.7 Energy Demand and Balance of Payments in Africa -- 6.7.1 Energy Demand in Africa -- 6.7.2 Balance of Payments in Africa -- 6.7.3 Strategies for Managing Energy Demand and Balance of Payments -- 6.8 Energy War and Trade in Africa -- 6.8.1 War-Prone Areas and Energy Trade -- 6.9 Concluding Remarks -- References -- Part III: Trade Finance and Payment Systems -- Chapter 7: An African Exchange Rate Mechanism in the Era of an African Continental Free Trade Area -- 7.1 Introduction and Rationale -- 7.2 The Objectives of the AERM -- 7.3 Background and Context -- 7.4 The Benefits of an AERM and a Single Currency -- 7.5 The Costs of an AERM |
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and a Single Currency -- 7.6 The European Monetary Union (EMU) as a Model for Convergence in Africa -- 7.6.1 Nominal Convergence -- 7.6.2 Legal Convergence -- 7.6.3 Real Convergence -- 7.6.4 Phases of Integration. |
7.6.5 Compatibility of Convergence -- 7.6.6 The EU Lessons Learnt -- Comparison of Economic and Geographical Features -- The Need for Political Convergence -- 7.7 What Are the Main Issues for Africa -- 7.7.1 Convergence Criteria -- 7.7.2 Choice of an Anchor -- 7.7.3 Choice of a Central Currency -- 7.7.4 Choice of Fluctuation Bands -- 7.7.5 Local vs Foreign Reserves Requirements -- 7.8 Conclusion and Recommendations -- References -- Chapter 8: The Dynamics of International Trade Finance in Africa -- 8.1 Introduction -- 8.2 Overview of Trade Finance Dynamics in Africa -- 8.3 Payment Methods in International Trade -- 8.3.1 Open Account -- 8.3.2 Prepayment -- 8.3.3 Documentary Collections -- 8.3.4 Letters of Credit -- 8.3.5 Drafts, Bill of Exchange -- 8.3.6 Counter-trade -- 8.4 Trade Financing Instruments -- 8.4.1 Line of Credit -- 8.4.2 Pre- and Post-Export Financing -- 8.4.3 Accounts Receivable Financing -- 8.4.4 Forfaiting and Factoring -- 8.5 Agencies That Facilitate International Trade in Africa -- 8.5.1 World Trade Organization (WTO) -- Functions of the WTO -- Challenges of the WTO -- 8.5.2 African Continental Free Trade Area (AfCFTA) -- 8.5.3 African Export-Import Bank (Afreximbank) -- 8.5.4 ECOWAS Bank for Investment and Development -- 8.5.5 Domestic Export-Import Banks -- 8.6 Summary and Conclusion -- References -- Chapter 9: The Economics of Structured Trade Finance in Africa -- 9.1 Introduction -- 9.2 Evolution of Structured Trade Finance -- 9.3 What Is Structured Trade Finance? -- 9.3.1 Typical Structured Trade Finance Deal -- 9.4 Structured Trade Finance and Conventional Finance -- 9.5 Structured Trade Finance Instruments -- 9.5.1 Supplier Finance -- 9.5.2 Forfaiting -- 9.5.3 Factoring -- 9.5.4 Securitisation -- 9.5.5 Repurchase Agreements -- 9.5.6 Warehouse Receipts -- 9.5.7 Forward and Futures Contracts -- 9.5.8 Loan Guarantees. |
9.6 Advantages/Benefits of Using Structured Trade Finance -- 9.7 Challenges Associated with Structured Trade Finance -- 9.7.1 Inappropriate for New Businesses or New Goods-No History -- 9.7.2 Limited Stability of the Political and Macroeconomic Environment -- 9.7.3 Underdeveloped Financial System -- 9.7.4 Low-Income Levels -- 9.8 Africa's Experience with Structured Trade Finance -- 9.9 Preconditions for Enhancing the Use of Structured Trade Finance -- 9.9.1 Developed Financial System -- 9.9.2 Developed Legal Framework -- 9.9.3 Tax Incentives -- 9.9.4 Rating Agencies and Rating Services -- 9.9.5 Political and Macroeconomic Stability -- 9.10 Conclusion and Implications -- References -- Chapter 10: Development Finance Institutions and Trade Promotion in Africa -- 10.1 Introduction -- 10.2 Overview of Development Finance Institutions -- 10.2.1 Ability to Mobilise Additional Project Capital -- 10.2.2 Additionality -- 10.2.3 Willingness to Stay the Course -- 10.2.4 Superior Credit Rating -- 10.2.5 Non-profit Mentality -- 10.2.6 Tenor -- 10.3 The Role of DFIs in Trade Promotion -- 10.4 DFIs' Financing and Trade Promotion -- 10.4.1 Debt -- Project Finance -- Trade Finance -- 10.4.2 Equity -- 10.4.3 Guarantees -- 10.4.4 Advisory Services or Technical Assistance -- 10.5 Interventions of DFIs and the Structure of Trade Finance Playbook in Africa -- 10.5.1 Structure of EBRD's Trade Finance Offering -- 10.5.2 Structure of the IFC's Trade Finance Offering and Interventions -- 10.5.3 Structure of AfDB's Trade Finance Offering and Interventions -- Risk Participation Agreement -- Trade Finance Lines of Credit -- Soft Commodity Finance Facility -- 10.5.4 Structure |
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of TDB's Trade Finance Offering and Interventions -- 10.5.5 Structure of EBID's Trade Finance Offering and Interventions -- 10.6 Conclusion -- References. |
Chapter 11: Payment and Settlement Systems and the African Continental Free Trade Area. |
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