Conclusion

Kato Kimbugwe, Nicholas Perdikis, May Yeung and William Kerr
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Kato Kimbugwe: Aberystwyth University
Nicholas Perdikis: Aberystwyth University

Chapter 8 in Economic Development Through Regional Trade, 2012, pp 201-216 from Palgrave Macmillan

Abstract: Abstract The objective of this book was to assess the potential impact of initiatives to revitalize the East African Community. The literature on regionalism as a source of competitive advantage in the East African context is inconclusive in providing answers to (i) the cost of existing trade barriers, (ii) the motivation for regional integration, (iii) the strategic changes at the firm level that would enhance industry competitiveness and (iv) the environment required if firms are to exploit the opportunities of a barrier-free market. It also put forth a hypothesis as to why, despite the promise identified in ex ante assessments of regional trade agreements in Africa, they seldom live up to their promise. The complex relationship between the real-politik of Africa’s Big Men and the crony capitalists who provide the resources they require to maintain power is not typically incorporated into the ex ante assessments undertaken by economists. This book sought to address these gaps in the literature. It began the discussion by setting out a model to explain the Big Man-Crony Capitalist symbiotic relationship in the context of trade liberalization/protectionism. Next, the linkages between regional trade and economic development made by conventional economic theory were explored. The theory of regional integration, the arguments for and against it and the current issues were examined.

Keywords: Competitive Advantage; Manufacturing Sector; Trade Liberalization; Regional Integration; Trade Barrier (search for similar items in EconPapers)
Date: 2012
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-0-230-36992-4_8

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DOI: 10.1057/9780230369924_8

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