Trade Integration in the ECOWAS: Assessing Constraints and Opportunities Using an Augmented Gravity Model

In this brief, we review the evidence on Morocco’s export concentration, discuss its causes, and then draw some policy implications. The main message is that Morocco needs to raise its game in some less familiar markets and move outside its comfort zone. This implies not only investments by private firms, greater efforts on export promotion by the government and professional associations, but also deeper changes within Morocco, including in its educational system. Over the past two ...

Africa is an economic region which holds great potential despite the risks associated with its development. Indeed, many experts agree that Africa is emerging as the new frontier for global growth. Boosted by its abundant natural resources, a young and vibrant population, strong urbanization, more stable macroeconomic conditions, more stringent economic policies, a constantly improving business climate and improving governance, Africa is on track for a structural transformation that ...

This policy brief (PB), prepared for the G-20 Working Group on Trade, aims to provide decision-makers with a succinct review of the state of the trading system, to point to likely scenarios, and to serve as a background to or reference for the other six PBs prepared by the T20 Task Force on Trade, Investment and Globalization. The brief argues that the world trading system has been remarkably successful in many respects but that the present strain reflects causes which are deep-seat ...

*The recommendations put forth below have been published, both print and online, in the Financial Times.  The leaders of the G20 will meet on 30 November and 1 December in Buenos Aires for their annual summit. They need to acknowledge that the last two years have been characterized by strong headwinds for the world economy. This time, however, it is not a mixture of poor macroeconomic policies and bad business decisions – as in 2008 when they met in Washing ...

The Brazilian economy pays a price in terms of productivity foregone because of its lack of trade openness. A trade opening process would bring an adjustment impact that could nonetheless be mitigated with public policies that facilitate labor mobility and job migration. Benefits from trade opening would also hinge on policy improvements in complementary areas, such as infrastructure investments, business environment and others. The Brazilian economy would benefit from opening trad ...

Salutations Thank you for the invitation to address the 2018 Africa Think Tank Summit  in this memorable city of Rabat. I thank in particular, the OCP Policy Center and the Think Tank and Civil Societies Program of the University of Pennsylvania for hosting the Summit with the theme “Deepening Expertise and Enhancing Sustainability: Insight into Contemporary Challenges Facing African Think Tanks”. Rabat, Morocco has been the sprouting ground of numerous agenda-setti ...

The recently signed African Continental Free Trade Agreement represents a countercurrent to protectionist tendencies across the Atlantic and the Pacific, and may well move the economic integration of the African continent forward. Translating the vision into action, however, will call upon signatories to undertake deeper domestic reforms and to confront specific challenges related to the agreement itself. This brief explains why the agreement is important for Africa and identifies p ...

Ce mardi 21 Mars 2018, quarante-quatre chefs d’Etat et de gouvernement réunis à Kigali (Rwanda) signaient l’accord de création de la zone de libre échange continentale (Continental Free Trade Area, CFTA). Cet accord historique marque la volonté des Etats africains d’aller vers la mise en place à l’échelle du continent d’un marché commun où les échanges de biens et de services seraient libres et la circulation des capitaux et des personnes sans contraintes. Tels que précisés dans la ...

Current technological developments in manufacturing are likely to lead to a partial reversal of the wave of fragmentation and global value chains that was at the core of the rise of North-South trade from 1990 onwards. At the same time, China – the main hub of the global-growth-cum-structural-change of that period - may attempt to extend the previous wave through its “One Belt, One Road” initiative. ...