Commodity Exports and Economic Transformation in Africa

Matthew Kofi Ocran ()
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Matthew Kofi Ocran: University of the Western Cape

Chapter Chapter 16 in The Palgrave Handbook of International Trade and Development in Africa, 2024, pp 303-322 from Springer

Abstract: Abstract The beginning of the 1990s saw a new growth momentum in Africa after years of stagnation and deterioration in key economic indicators. By the first decade of the 2000s economic growth in most countries in Africa was on a positive trajectory. The role of primary commodity exports in determining economic outcomes in most countries on the continent can’t be overemphasised. However, for economic transformation to ensue, countries need to shift resources from agriculture to more productive sectors of the economy where productivity is higher. Thus far, the structural changes witnessed have not been deep enough to transform the economies. The transition to high productivity sectors can be facilitated via the participation in global value chains. The African Continental Free Trade Area agreement can assist structural transformation by easing barriers that impede cross-border trade and thereby support the shift from primary commodities to the exports of intermediates and final goods and services.

Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-3-031-65715-3_16

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DOI: 10.1007/978-3-031-65715-3_16

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