The United Nation's Conference on Trade and Development (UNCTAD) has recently issued its 2009 Economic Development in Africa report.Key highlights include the following: intra-African trade is lower than is regional trade in other parts of the world. More regional trade will create opportunities for African countries to diversify their economies and lower risks associated with trying to do too many things domestically (i.e., undue some of the costly mistakes associated with past policies such as import substitution). Making foreign direct investment -- particularly investment from other African investors -- easier and more secure would promote economic development as would improvements in African infrastructure.
Happily, the report calls for support for increased labor mobility -- allow more workers to move across borders in search of opportunity -- a policy which, if enacted would lead to "a win-win situation for all actors involved." (p. 87).
The entire report is downloadable here.
- Karol
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