Can Africa Export Manufactures? : The Role of Endowment, Exchange Rates, and Transaction Costs

Can Africa Export Manufactures? : The Role of Endowment, Exchange Rates, and Transaction Costs / Elbadawi, A. Ibrahim

May 1999 - Africa's poor performance in manufactured exports in the 1990s (relative to East Asia) appears to be largely the result of bad policies-especially policies that affect transaction costs. Elbadawi analyzes the determinants of manufactured exports in Africa and other developing countri...

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Detalles Bibliográficos
Autores principales:Elbadawi, A. Ibrahim
Formato: Online-Resource
Lenguaje:English
Publicado:Washington, D.C : The World Bank, 1999
Materias:
Steuer
Capital Markets
Comparative Advantage
Comparative Advantages
Competitiveness
Costs
Currencies and Exchange Rates
Debt Markets
Development
Economic Stabilization
Economic Theory and Research
Elasticity
Emerging Markets
Exchange
Exports
Failures
Finance and Financial Sector Development
Financial Literacy
Free Trade
Goods
Human Capital
Income Elasticity Of Demand
Inequality
International Economics & Trade
Investment
Macroeconomic Management
Macroeconomics and Economic Growth
Natural Resources
Poverty Reduction
Private Sector Development
Pro-Poor Growth
Taxation
Taxes
Theory
Trade
Variables
Acceso en línea:kostenfrei
Descripción
Sumario:May 1999 - Africa's poor performance in manufactured exports in the 1990s (relative to East Asia) appears to be largely the result of bad policies-especially policies that affect transaction costs. Elbadawi analyzes the determinants of manufactured exports in Africa and other developing countries, guided by three pivotal views on Sub-Saharan Africa's (Africa's) prospects in manufactured exports: ° Adrian Woods holds that Africa cannot have comparative advantage in exports of labor-intensive manufactures (even if broadly defined to include raw material processing) because its natural resources endowment is greater than its human resources endowment (endowment thesis). ° Paul Collier argues that, for most of Africa, unusually high (policy-induced) transaction costs are the main source of Africa's comparative disadvantage in manufactured exports (transaction thesis). ° A third approach (Elbadawi and Helleiner) emphasizes the importance of stable, competitive real exchange rates for profitability of exports in low-income countries (exchange rate-led strategy). Elbadawi tests the implications of these three views with an empirical model of manufactured export performance (manufactured exports' share of GDP), using a panel of 41 countries for 1980-95. His findings: ° Corroborate the predictions of the transaction thesis, in that transaction costs are major determinants of manufactures exports. Investing in reducing these costs generates the highest payoff for export capacity. ° Lend support for the exchange rate-led strategy.
Notas:Weitere Ausgabe: Elbadawi, A. Ibrahim: Can Africa Export Manufactures?
Descripción Física:1 Online-Ressource (23 Seiten)

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