The Spring-Summer 2019 issue of the IMF Research Perspectives explores how technology deals with old questions. Articles discuss the ways technological progress and the increased availability of data have helped in some areas, while presenting new challenges for analyzing various matters. The issue also includes an interview with Gita Gopinath, the new director of the IMF Research Department.
accompanied by export diversification. Oil and other commodities are still the main export items; SSA’s exports of manufactures are still confined to a few product categories. The emergence of clothing exports reflects the impactofAfrican Growth and Opportunity Act (AGOA) and the fact that expiration of the Multi-Fiber Arrangement did not have as dire an effect as expected.
Most countries have neither managed to achieve a labor-intensive manufacturing export surge nor climbed up the value chain of their commodity-based exports. This is largely due to lack of
/trade liberalization and productivity growth helps shed some light on the impactofAfrican RTAs on export competitiveness. Based on firm-level panel data from three African economies (Ghana, Kenya, and Ethiopia), Mengistae and Pattillo (2004) find that exporting manufacturers have a total factor productivity premium of 11–28 percent. Jonsson and Subramanian (2000) find that trade liberalization has contributed significantly to growth through higher productivity in South Africa. To the extent that RTAs have not been effective in promoting overall African exports, it is unlikely
detailed discussion of African integration schemes.
In contrast, the results show that LAFTA , CACM , and ASEAN are associated with a higher FDI ratio (at least at the 20 percent level) over and above what is explained by the various fundamentals. Surprisingly, SADCC and CACM seem to have done better than ASEAN , where FDI has grown at a slower pace than the rest of Asia (Kamfai, 1997). The average FDI ratio was 1.48 percent in ASEAN in the study period.
This chapter has attempted to analyze the impactsofAfrican regional integration