By Henry Kyambalesa
Debates as to what African financial integration and improvement really involves rage throughout foreign fiscal agencies, nationwide govt and NGOs internationally. regardless of the glare of media recognition and the location, this factor has on overseas political agendas, few finished money owed exist that totally learn why this procedure could be an inevitable within the twenty first century, and the way integration of nationwide economies should be attuned to reaching the socio-economic objectives and aspirations of member-countries. This ebook addresses this challenge. It combines thought with program, enumerating the imperatives and tasks governments might be compelled to confront; supplying insights for educators and scholars in African improvement, for coverage makers in African governments, and for inter-governmental businesses.
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130; and Salvatore, Dominic, International Economics, pp. 293–94. The need for sustained peace and stability in a country’s and/or region’s quest for pronounced socio-economic development is discussed in a nutshell elsewhere in this book. , ‘Africa’s Record of Regional Cooperation and Integration,’ African Affairs, Vol. 99, No. 397, October 2000, p. 565. Conceptual Underpinnings 11 (c) competitive economies: the economies of cooperating countries need to be initially competitive rather than complementary19 in order to provide for a competitive business environment in the regional economy which may eventually be created; (d) similar stage of development: the national economies of cooperating countries also need to be generally at similar stages of industrial development in order to circumvent problems pertaining to the following: (i) mass-emigration of people from low-income to high-income member-countries, (ii) dominance by one or a few member-countries in the supply of manufactured goods or industrial inputs, and/or (iii) differences in labor, environmental and product safety standards; (e) geographical proximity: there is a need for geographical proximity among cooperating countries to make it possible for them to create a well-developed and efﬁcient transportation system for distributing industrial inputs and ﬁnished products within their regional economy; (f) pre-integration trade ties: strong pre-integration trade ties (which would reﬂect the existence of specialization by cooperating countries in the production of divergent commodities), harmonious and protracted political relations, and similarity of economic systems between and among cooperating countries; (g) high pre-integration trade barriers: high pre-integration tariffs and non-tariff trade barriers between and among cooperating countries, so that the eventual scaling down or complete removal of trade barriers can result in very low prices of tradable products in the regional economy that is to be created and ultimately lead to trade creation; (h) low post-integration trade barriers: low tariffs and non-tariff trade barriers on the integrated region’s imports from nonmember-countries so that trade with such countries is sustained in order to promote the generation of tariff revenues by member-countries; (i) large number of countries: Involvement of a large number of countries in the creation of an IGO in order to broaden the potential for inclusion of many countries which have low-cost industries in the IGO, as well as create a larger economic region in terms of both market size and investment opportunities; (j) preferential treatment: an inclination by each and every member-country to import relatively more commodities from cooperating countries than from nonmembers; (k) sharing of gains and losses: presence of an acceptable mechanism for assessing both qualitative and quantitative costs associated with cooperating countries’ membership in an IGO, and ensuring that the beneﬁts of integration—including revenues generated from tariffs that are levied on imports from nonmembercountries—are distributed both fairly and efﬁciently among member-countries; and 19 In other words, each member-country’s economy should initially have the capacity to compete in cross-border trade by itself with little or no dependence on other countries’ economies to complement its competitive position.
56. , Business and Society: Environment and Responsibility (New York, 1975), pp. 115–16. , Africa in Crisis: The Causes, the Cures of Environmental Bankruptcy (Philadelphia, 1986), p. 39. 20 The Malthusian view that population growth needs to be stemmed in order to prevent the misery, hunger and pestilence that can follow if the population exceeds the carrying capacity of a given physical environment21 does not, therefore, apply to sparsely populated, resource-rich African countries. As such, global population control efforts need to be appropriately directed at countries whose population densities are well in excess of 100 persons per square mile, particularly the following: Belgium, Germany, India, Japan, the Netherlands, the Philippines, Singapore, and the United Kingdom.
124 should corroborate the point made here. , ibid. , An Essay on Population (London, 1914 [ﬁrst published in 1798]). , ‘The Need for a Developmentalist State,’ Southern Africa Political and Economic Monthly, Vol. 6, No. 10, July 1993, pp. 46 and 48. , Technology Generation in Latin American Manufacturing Industries (New York, 1987), pp. 24–25. The content of the Box is excerpted from World Almanac and Book of Facts 2005 (New York, 2005), pp. 747–847; Brunner, Borgna, Editor-in-Chief, Time Almanac 2005 with Information Please (Needham, MA, 2004), pp.