Africa’s Trade in Services and the African Continental Free Trade Area Agreement
- Authors: Cattaneo, Nicolette S
- Date: 2020
- Subjects: To be catalogued
- Language: English
- Type: text , article
- Identifier: http://hdl.handle.net/10962/470155 , vital:77331
- Description: In recent years there has been growing interest in the role and position of the services sector and services trade in structural transformation and development. This is associated with the services sector’s significant share in domestic and global value added and employment, the increasing tradability of services and the notable proportion of foreign direct investment (FDI) flowing to the services sector. The role of the services sector in facilitating production and trade in other key sectors of the economy, particularly manufacturing, is also of growing importance in the context of global value chains. In the light of pressure on developing countries to liberalise their services sectors in North–South trade and investment agreements, often before domestic and regional frameworks have developed sufficiently, the need for a developmental trade strategy for the services sector has become more pressing. This report examines the growth and structure of trade in services in Africa and its importance for services trade policy formulation and the African Continental Free Trade Area (AfCFTA) negotiations on services trade.
- Full Text:
- Date Issued: 2020
- Authors: Cattaneo, Nicolette S
- Date: 2020
- Subjects: To be catalogued
- Language: English
- Type: text , article
- Identifier: http://hdl.handle.net/10962/470155 , vital:77331
- Description: In recent years there has been growing interest in the role and position of the services sector and services trade in structural transformation and development. This is associated with the services sector’s significant share in domestic and global value added and employment, the increasing tradability of services and the notable proportion of foreign direct investment (FDI) flowing to the services sector. The role of the services sector in facilitating production and trade in other key sectors of the economy, particularly manufacturing, is also of growing importance in the context of global value chains. In the light of pressure on developing countries to liberalise their services sectors in North–South trade and investment agreements, often before domestic and regional frameworks have developed sufficiently, the need for a developmental trade strategy for the services sector has become more pressing. This report examines the growth and structure of trade in services in Africa and its importance for services trade policy formulation and the African Continental Free Trade Area (AfCFTA) negotiations on services trade.
- Full Text:
- Date Issued: 2020
South Africa’s trade in cultural goods and services with a focus on cultural trade with BRICS partners
- Cattaneo, Nicolette S, Snowball, Jeanette D
- Authors: Cattaneo, Nicolette S , Snowball, Jeanette D
- Date: 2020
- Subjects: To be catalogued
- Language: English
- Type: text , book chapter
- Identifier: http://hdl.handle.net/10962/470339 , vital:77350 , ISBN , https://doi.org/10.1080/10220461.2015.1069208
- Description: This article examines the potential role the BRICS Contingent Reserve Arrangement (CRA) could play in stabilising countries experiencing a high degree of economic volatility. The CRA is a US$100 billion pooled reserve fund that has its origins in the fifth BRICS Summit hosted in Durban. The CRA was set up to help emerging nations deal with liquidity shortages and to strengthen financial systems during crisis. The article examines the debate on the effect of capital market liberalisation and collates some relevant macroeconomic data on the BRICS economies in order to explore the case for a contingent reserve facility. It is found that emerging economies that rapidly liberalised their capital accounts experienced increased economic volatility, creating an uncertain macroeconomic environment and hampering the ability of policymakers to conduct appropriate stabilisation policy. The article takes the position that the CRA could play an important role in providing liquidity to distressed emerging economies. However it concludes that the CRA facility does not signal a significant break from the Bretton Woods institutions on the part of the BRICS countries.
- Full Text:
- Date Issued: 2020
- Authors: Cattaneo, Nicolette S , Snowball, Jeanette D
- Date: 2020
- Subjects: To be catalogued
- Language: English
- Type: text , book chapter
- Identifier: http://hdl.handle.net/10962/470339 , vital:77350 , ISBN , https://doi.org/10.1080/10220461.2015.1069208
- Description: This article examines the potential role the BRICS Contingent Reserve Arrangement (CRA) could play in stabilising countries experiencing a high degree of economic volatility. The CRA is a US$100 billion pooled reserve fund that has its origins in the fifth BRICS Summit hosted in Durban. The CRA was set up to help emerging nations deal with liquidity shortages and to strengthen financial systems during crisis. The article examines the debate on the effect of capital market liberalisation and collates some relevant macroeconomic data on the BRICS economies in order to explore the case for a contingent reserve facility. It is found that emerging economies that rapidly liberalised their capital accounts experienced increased economic volatility, creating an uncertain macroeconomic environment and hampering the ability of policymakers to conduct appropriate stabilisation policy. The article takes the position that the CRA could play an important role in providing liquidity to distressed emerging economies. However it concludes that the CRA facility does not signal a significant break from the Bretton Woods institutions on the part of the BRICS countries.
- Full Text:
- Date Issued: 2020
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