North-South Trade : Is Africa Unusual?

We estimate a gravity model to address the question of whether Africa's bilateral trade with industrial countries is "unusual" compared with other developing country regions. Our main finding is that the unusually low level of African trade is explained by economic size, geographical distance, and population. This result holds after controlling for a country's access to the sea, composition of exports, linguistic ties with industrial countries, and trade policies. If anything, the average African country tends to "overtrade" compared with developing countries in other regions, although the degree to which Africa overtrades has steadily declined over the past two-and-one-half decades.
Publication date: June 1998
ISBN: 9781451851694
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This title contains information about the following subjects. Click on a subject if you would like to see other titles with the same subjects.

International - Economics , International - Economics , Globalization , Globalization , gravity model , trade , bilateral trade , trading patterns , world trade , trade liberalization , trading blocs

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