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Full Description
In 2019, African heads of state and governments launched in fanfare the African Continental Free Trade Agreement (AfCFTA), a historic agreement for economic transformation across the continent. But now comes the hard bit: how to make the agreement a success?
In this book, senior experts from across the world come together to provide a comprehensive analysis of the conditions needed for AfCFTA to successfully spur economic development in Africa. It puts forward three foundations for success: demography dividend, digital economy, and economic diversification. In addition to trade policy, the book recommends that African policymakers should strengthen fiscal and monetary policy coordination, adopt and implement the appropriate regulatory environment, and build suitable connectivity infrastructure. The stakes are high. If implemented correctly, the book argues that AfCFTA could speed up trade within Africa, which could double every five years. Success would mean growth, investment, changing trade patterns, jobs, economic transformation, poverty reduction, and a continental market for services.
Driven by concrete, evidence-based strategies for long-term growth, this book is an essential read for policy makers, development practitioners, economics researchers, and everyone with an interest in the future of Africa.
Contents
Foreword 1: Making the AfCFTA a Success: Potential, Pathways, and Call for Action 2: Africa's Trade patterns—Trends and Benchmarking 3: Long-term growth impact of a well-functioning AfCFTA for the continent and by sub-region: a comparative analysis based on historical experience 4: The Africa Continental Free Trade Area and Poverty Reduction in Africa 5: AfCFTA: What it means for AGOA, EBA and trading with Asia? 6: Lessons from African RECs: for a successful AfCFTA 7: Fiscal policies coordination to the success of the AfCFTA 8: Monetary policy harmonization for AfCFTA 9: Transport Policies for a Successful AfCFTA 10: Industrialize Africa by leveraging on its natural resources: The AfCFTA to be a game changer 11: Upgrading Skills for Africa's Economic Transformation 12: Realizing the promise of the AfCFTA - the role of industrial and competition policies 13: Intellectual Property and the African Continental Free Trade Area: A Public Health Perspective
