Gaining from Trade in Southern Africa: Complementary by Carolyn M. Jenkins, Lynne Thomas, Jonathan Leape

By Carolyn M. Jenkins, Lynne Thomas, Jonathan Leape

Policy-makers in Southern Africa are more and more confident that neighborhood exchange liberalization can enhance development functionality and stimulate improvement during the zone. To prevail the place prior makes an attempt have failed, even if, governments needs to handle key concerns. the 1st of those is coverage coordination--the vast variety of family guidelines needs to be made suitable with the proposed exchange reforms. the second one is establishment building--concerted awareness has to be dedicated to strengthening susceptible associations and infrastructure. The members are one of the top experts on nearby integration in Africa.

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Extra resources for Gaining from Trade in Southern Africa: Complementary Policies to Underpin the SADC Free Trade Area

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Direct mitigation of employment losses could be achieved in several ways. For example, employment creation which is sufficiently rapid to absorb displaced workers should be facilitated through assistance to micro, small and medium-scale enterprises; streamlined procedures for new foreign investors; trade and investment promotion; the encouragement of dialogue between private sector entrepreneurs in the region; national retraining programmes; and a streamlined competition policy. As a general rule, labour market flexibility is likely to be important during the transition to the FTA.

1996); Collier and Gunning (1996). 8 There is no evidence of worldwide convergence, but within smaller groups of countries or states, like the OECD countries, or the US states, or Japanese prefectures, members with lower incomes per head appear to be converging on the richer members (Barro and Sala-i-Martin, 1991; Dowrick and Nguyen, 1989). The members of these groups are very open to one another. It has been argued that all countries which are open and integrated in the world economy are, in fact, members of the ‘convergence club’ (Sachs and Warner, 1995: 41).

But the formation of a SADC free trade area should not be adopted as an alternative to a more general removal of trade restrictions; this would ultimately risk impeding long-run growth. Instead, the SADC FTA should be viewed as a means of improving competitiveness in Southern Africa so that, in the longer term, the region can take advantage of wider trade and investment opportunities. Policy-makers could consider the FTA a first step in forming a customs union in Southern Africa. The economic literature demonstrates that while a customs union is always welfare-enhancing through its tradecreation effects, an FTA may in some circumstances be welfare-reducing through effectively increasing protection and generating trade diversion.

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