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Comments on ‘Trade Policy and Regional Integration in the Development Context: Emerging Patterns, Issues and Lessons for Sub-Saharan Africa’ by T. Ademola Oyejide

Comments on ‘Trade Policy and Regional Integration in the Development Context: Emerging Patterns,... JOURNAL OF AFRICAN ECONOMIES, VOLUME 7, SUPPLEMENT 1: 1998 (AERC SUPPLEMENT MAY 1997), PP. 150-161 Comments on 'Trade Policy and Regional Integration in the Development Context: Emerging Patterns, Issues and Lessons for Sub-Saharan Africa' by T. Ademola Oyejide William Lyakurwa AERC 1. Introduction In the early post-World War II period a number of developing countries, after gaining political independence, sought economic development by substituting imports with domestic production. Most of these countries could not achieve their objectives, as import substitution proved to be ineffective (Urata, 1994). It introduced distortions in the production structures and was limited by the size of the domestic market. Inward-looking economic strategy based on import-substitution industrialisation is biased against trade. It offers limited scope for sustained inter-country trade expansion through mutual tariff concessions and other arrangements because national governments relying on protectionist strategies to promote domestic manufacturing are unlikely to encourage unrestricted trade with neighbours. Trade policy has figured prominently in the development and industrialisation strategies in Sub-Saharan Africa (SSA) and has conditioned the macroeconomic and sector policies adopted since the early 1980s. The choice of overall development strategy has shaped trading relations between domestic economies and the rest of the world, while having a http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Journal of African Economies Oxford University Press

Comments on ‘Trade Policy and Regional Integration in the Development Context: Emerging Patterns, Issues and Lessons for Sub-Saharan Africa’ by T. Ademola Oyejide

Lyakurwa, William
Journal of African Economies , Volume 7 (suppl_1) – Jun 1, 1998
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Publisher
Oxford University Press
Copyright
© Published by Oxford University Press.
Subject
Articles
ISSN
0963-8024
eISSN
1464-3723
DOI
10.1093/jafeco/7.suppl_1.150
Publisher site
See Article on Publisher Site

Abstract

JOURNAL OF AFRICAN ECONOMIES, VOLUME 7, SUPPLEMENT 1: 1998 (AERC SUPPLEMENT MAY 1997), PP. 150-161 Comments on 'Trade Policy and Regional Integration in the Development Context: Emerging Patterns, Issues and Lessons for Sub-Saharan Africa' by T. Ademola Oyejide William Lyakurwa AERC 1. Introduction In the early post-World War II period a number of developing countries, after gaining political independence, sought economic development by substituting imports with domestic production. Most of these countries could not achieve their objectives, as import substitution proved to be ineffective (Urata, 1994). It introduced distortions in the production structures and was limited by the size of the domestic market. Inward-looking economic strategy based on import-substitution industrialisation is biased against trade. It offers limited scope for sustained inter-country trade expansion through mutual tariff concessions and other arrangements because national governments relying on protectionist strategies to promote domestic manufacturing are unlikely to encourage unrestricted trade with neighbours. Trade policy has figured prominently in the development and industrialisation strategies in Sub-Saharan Africa (SSA) and has conditioned the macroeconomic and sector policies adopted since the early 1980s. The choice of overall development strategy has shaped trading relations between domestic economies and the rest of the world, while having a

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Journal of African Economies – Oxford University Press

Published: Jun 1, 1998

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