The African Continental Free Trade Area: Potential Economic Impact and Challenges

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Author :
Publisher : International Monetary Fund
ISBN 13 : 1513542370
Total Pages : 41 pages
Book Rating : 4.5/5 (135 download)

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Book Synopsis The African Continental Free Trade Area: Potential Economic Impact and Challenges by : Mr.Lisandro Abrego

Download or read book The African Continental Free Trade Area: Potential Economic Impact and Challenges written by Mr.Lisandro Abrego and published by International Monetary Fund. This book was released on 2020-05-13 with total page 41 pages. Available in PDF, EPUB and Kindle. Book excerpt: Political momentum towards Africa-wide free trade has been intensifying. In March 2018, over 40 countries signed the African Continental Free Trade Area (AfCFTA) agreement. Once fully implemented, the AfCFTA is expected to cover all 55 African countries, with a combined GDP of about US$2.2 trillion. This SDN takes stock of recent trade developments in Sub-Saharan Africa and assesses the potential benefits and costs of the AfCFTA, as well as challenges to its successful implementation. In addition to increased trade flows both in existing and new products, the AfCFTA has the potential to generate substantial economic benefits for African countries. These benefits include higher income arising from increased efficiency and productivity from improved resource allocation, higher cross-border investment flows, and technology transfers. Besides lowering import tariffs, to ensure these benefits, African countries will need reduce other trade barriers by making more efficient their customs procedures, reducing their wide infrastructure gaps, and improving their business climates. At the same time, policy measures should be taken to mitigate the differential impact of trade liberalization on certain groups as resources are reallocated in the economy and activities migrate to locations with comparatively lower costs.

The African Continental Free Trade Area

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Author :
Publisher : World Bank Publications
ISBN 13 : 1464815607
Total Pages : 161 pages
Book Rating : 4.4/5 (648 download)

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Book Synopsis The African Continental Free Trade Area by : World Bank

Download or read book The African Continental Free Trade Area written by World Bank and published by World Bank Publications. This book was released on 2020-09-28 with total page 161 pages. Available in PDF, EPUB and Kindle. Book excerpt: The African Continental Free Trade Area (AfCFTA) agreement will create the largest free trade area in the world, measured by the number of countries participating. The pact will connect 1.3 billion people across 55 countries with a combined GDP valued at $3.4 trillion. It has the potential to lift 30 million people out of extreme poverty by 2035. But achieving its full potential will depend on putting in place significant policy reforms and trade facilitation measures. The scope of the agreement is considerable. It will reduce tariffs among member countries and cover policy areas, such as trade facilitation and services, as well as regulatory measures, such as sanitary standards and technical barriers to trade. It will complement existing subregional economic communities and trade agreements by offering a continent-wide regulatory framework and by regulating policy areas—such as investment and intellectual property rights protection—that have not been covered in most subregional agreements. The African Continental Free Trade Area: Economic and Distributional Effects quantifies the long-term implications of the agreement for growth, trade, poverty reduction, and employment. Its analysis goes beyond that in previous studies that have largely focused on tariff and nontariff barriers in goods—by including the effects of services and trade facilitation measures, as well as the distributional impacts on poverty, employment, and wages of female and male workers. It is designed to guide policy makers as they develop and implement the extensive range of reforms needed to realize the substantial rewards that the agreement offers. The analysis shows that full implementation of AfCFTA could boost income by 7 percent, or nearly $450 billion, in 2014 prices and market exchange rates. The agreement would also significantly expand African trade—particularly intraregional trade in manufacturing. In addition, it would increase employment opportunities and wages for unskilled workers and help close the wage gap between men and women.

Inclusive Trade in Africa

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Author :
Publisher : Routledge
ISBN 13 : 0429684762
Total Pages : 208 pages
Book Rating : 4.4/5 (296 download)

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Book Synopsis Inclusive Trade in Africa by : David Luke

Download or read book Inclusive Trade in Africa written by David Luke and published by Routledge. This book was released on 2019-04-01 with total page 208 pages. Available in PDF, EPUB and Kindle. Book excerpt: Providing the first book-length analysis of the African Continental Free Trade Area (AfCFTA), this volume asks how can it be ensured that the AfCFTA is effectively implemented to deliver inclusive trade in Africa. The African Continental Free Trade Area (AfCFTA) will cover an African market of 1.2 billion people and GDP of over $2.5 trillion, across all 55 member States of the African Union. Yet, trade policy increasingly appreciates that free trade is not enough; trade must also be inclusive to deliver developmental benefits. With contributions from leading trade policy authors across Africa and beyond, this book offers insights into the development and implementation of the AfCFTA and serves as a reference for stakeholders interested in trade in Africa more broadly. The contributors assess what important lessons can be drawn from the experiences of regional integration in and beyond Africa, including from success stories like ASEAN as well as from failures like the Free Trade Agreement of the Americas. An important new work for researchers and policymakers focusing on African trade and economic policy, and trade policy more generally.

Making the African Continental Free Trade Agreement a Success

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Author :
Publisher : Taylor & Francis
ISBN 13 : 1040006027
Total Pages : 307 pages
Book Rating : 4.0/5 (4 download)

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Book Synopsis Making the African Continental Free Trade Agreement a Success by : Albert G. Zeufack

Download or read book Making the African Continental Free Trade Agreement a Success written by Albert G. Zeufack and published by Taylor & Francis. This book was released on 2024-04-05 with total page 307 pages. Available in PDF, EPUB and Kindle. Book excerpt: In 2019, African heads of state and governments launched in fanfare the African Continental Free Trade Agreement (AfCFTA), a historic agreement for economic transformation across the continent. But now comes the hard bit: how to make the agreement a success? In this book, senior experts from across the world come together to provide a comprehensive analysis of the conditions needed for AfCFTA to successfully spur economic development in Africa. It puts forward three foundations for success: demography dividend, digital economy, and economic diversification. In addition to trade policy, the book recommends that African policymakers should strengthen fiscal and monetary policy coordination, adopt and implement the appropriate regulatory environment, and build suitable connectivity infrastructure. The stakes are high. If implemented correctly, the book argues that AfCFTA could speed up trade within Africa, which could double every five years. Success would mean growth, investment, changing trade patterns, jobs, economic transformation, poverty reduction, and a continental market for services. Driven by concrete, evidence-based strategies for long-term growth, this book is an essential read for policy makers, development practitioners, economics researchers, and everyone with an interest in the future of Africa.

Economic Development in Africa Report 2021

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Author :
Publisher :
ISBN 13 : 9789211130041
Total Pages : 220 pages
Book Rating : 4.1/5 (3 download)

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Book Synopsis Economic Development in Africa Report 2021 by : UNITED NATIONS CONFERENCE ON TRADE AND DEVELOPMENT.

Download or read book Economic Development in Africa Report 2021 written by UNITED NATIONS CONFERENCE ON TRADE AND DEVELOPMENT. and published by . This book was released on 2022-01-07 with total page 220 pages. Available in PDF, EPUB and Kindle. Book excerpt: The African Continental Free Trade Area is expected to be a game changer for development ambitions in Africa.

Assessing Regional Integration in Africa V

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Author :
Publisher : United Nations
ISBN 13 : 9210552784
Total Pages : 170 pages
Book Rating : 4.2/5 (15 download)

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Book Synopsis Assessing Regional Integration in Africa V by : United Nations Economic Commission for Africa

Download or read book Assessing Regional Integration in Africa V written by United Nations Economic Commission for Africa and published by United Nations. This book was released on 2012-08-28 with total page 170 pages. Available in PDF, EPUB and Kindle. Book excerpt: This publication comes at a time of renewed enthusiasm for shortening the period of the vision of the Abuja Treaty. The publication's overall objective is to provide analytical research that defines frameworks for African governments, the African Union and the Regional Economic Communities, towards accelerating the establishment of the African Common Market through: the speedy removal of all tariff and non-tariff barriers, obstacles to free movement of people, investments and factors of production in general across Africa, and through fast-tracking the creation of an African continental Free Trade Area.

The African Continental Free Trade Agreement: Welfare Gains Estimates from a General Equilibrium Model

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Author :
Publisher : International Monetary Fund
ISBN 13 : 1498314392
Total Pages : 32 pages
Book Rating : 4.4/5 (983 download)

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Book Synopsis The African Continental Free Trade Agreement: Welfare Gains Estimates from a General Equilibrium Model by : Mr.Lisandro Abrego

Download or read book The African Continental Free Trade Agreement: Welfare Gains Estimates from a General Equilibrium Model written by Mr.Lisandro Abrego and published by International Monetary Fund. This book was released on 2019-06-07 with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt: In March 2018, representatives of member countries of the African Union signed the African Continental Free Trade Area (AfCFTA) agreement. This agreement provides a framework for trade liberalization in goods and services and is expected to eventually cover all African countries. Using a multi-country, multi-sector general equilibrium model based on Costinot and Rodriguez-Clare (2014), we estimate the welfare effects of the AfCFTA for 45 countries in Africa. Three different model specifications—comprising both perfect competition and monopolistic competition—are used. Simulations include full elimination of import tariffs and partial but substantial reduction in non-tariff barriers (NTBs). Results reveal significant potential welfare gains from trade liberalization in Africa. As intra-regional import tariffs in the continent are already low, the bulk of these gains come from lowering NTBs. Overall gains for the continent are broadly similar under the three model specifications used, with considerable variation of potential welfare gains across countries in all model structures.

African Perspectives on Trade and the WTO

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Author :
Publisher : Cambridge University Press
ISBN 13 : 1107174473
Total Pages : 511 pages
Book Rating : 4.1/5 (71 download)

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Book Synopsis African Perspectives on Trade and the WTO by : World Trade Organization. China Round Table

Download or read book African Perspectives on Trade and the WTO written by World Trade Organization. China Round Table and published by Cambridge University Press. This book was released on 2016-09-29 with total page 511 pages. Available in PDF, EPUB and Kindle. Book excerpt: Twenty-first-century Africa is in a process of dynamic economic transformation. However, challenges remain in areas such as structural reform, governance, market turbulence, commodity pricing, and geopolitics. There is a critical need for African economies to assess growth models and strategies to foster increased, sustained, and inclusive growth. The book contributes to contemporary debate on key questions facing the continent, such as: How can Africa achieve deeper integration into the rules-based multilateral trading system and the global economy? What approaches and next steps are possible, according to economic and trade policymakers? What supportive roles can multilateral and regional institutions play? This volume is a product of the Fourth China Round Table, which took place during the WTO's Tenth Ministerial Conference, held in Kenya in December 2015. Supported by independent expert analyses, the book proposes a range of African perspectives on the role of trade, the WTO, and its future agenda.

The Effect of Economic Integration on Local and Regional Development

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Author :
Publisher : GRIN Verlag
ISBN 13 : 3346893863
Total Pages : 20 pages
Book Rating : 4.3/5 (468 download)

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Book Synopsis The Effect of Economic Integration on Local and Regional Development by : Owen Adams

Download or read book The Effect of Economic Integration on Local and Regional Development written by Owen Adams and published by GRIN Verlag. This book was released on 2023-06-21 with total page 20 pages. Available in PDF, EPUB and Kindle. Book excerpt: Essay from the year 2023 in the subject Economics - Industrial Economics, grade: A, , language: English, abstract: This paper examines the effect of economic integration on local and regional development in Africa. It explores the potential benefits, challenges, and opportunities that come with economic integration among African countries. The study acknowledges the importance of economic integration in accelerating growth and development on the continent, and highlights the need for effective national economic frameworks and policies to support regional integration efforts. Economic integration is seen as a blueprint for African countries to reap the benefits of globalization and integration into the global economy. The paper reviews the concept of economic integration, the stages of integration, and the benefits it brings, such as expanded markets, increased efficiency, and economies of scale. However, it also acknowledges the challenges facing economic integration in Africa, including poor governance, low political commitment, and weak institutional frameworks. The paper analyzes the progress of the East African Community (EAC) as an example of regional economic integration and highlights the positive impacts it has had on market access, trade negotiation capacity, transport and communication infrastructure, and the free movement of people and goods. The study concludes that economic integration has the potential to transform the African economic landscape, but the challenges need to be addressed, including addressing corruption, strengthening institutional frameworks, and harmonizing policies. The paper recommends the ratification of the African Continental Free Trade Area (AfCFTA) as a means to accelerate greater integration among African nations and remove barriers to trade and development.

Special Economic Zones in Africa

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Author :
Publisher : World Bank Publications
ISBN 13 : 0821386395
Total Pages : 328 pages
Book Rating : 4.8/5 (213 download)

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Book Synopsis Special Economic Zones in Africa by : Thomas Farole

Download or read book Special Economic Zones in Africa written by Thomas Farole and published by World Bank Publications. This book was released on 2011-01-01 with total page 328 pages. Available in PDF, EPUB and Kindle. Book excerpt: "This book, designed for policymakers, academics and researchers, and SEZ program practitioners, provides the first systematic and comprehensive analysis of SEZ programs in Sub-Saharan Africa. It is the result of detailed surveys and case studies conducted during 2009 in ten developing countries, including six in Sub-Saharan Africa. The book provides quantitative evidence of the performance of SEZs, and of the factors which contribute to that performance, highlighting the critical importance not just of the SEZ itself but of the wider national investment climate in which it functions. It also provides a comprehensive guide to the key policy questions that confront governments establishing SEZ programs, including: if and when to launch an SEZ program, what form of SEZ is most appropriate, and how to go about implementing it. Among the most important findings from the study that is stressed in the book is the shift from traditional enclave models of zones to SEZs that are integrated ? with national trade and industrial strategies, with core trade and social infrastructure, with domestic suppliers, and with local labor markets.Although the book focuses primarily on the experience of Sub-Saharan Africa, its lessons will be applicable to developing countries around the world."

The African Continental Free Trade Area

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Author :
Publisher : Springer
ISBN 13 : 9783031591808
Total Pages : 0 pages
Book Rating : 4.5/5 (918 download)

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Book Synopsis The African Continental Free Trade Area by : Benjamin Ofori-Amoah

Download or read book The African Continental Free Trade Area written by Benjamin Ofori-Amoah and published by Springer. This book was released on 2024-07-19 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: In March of 2018, 44 African countries signed the African Continental Free Trade Area agreement (AfCFTA) to launch what is considered as the largest free trade area in the world. The signing of the agreement has been hailed as a major breakthrough for African development by African countries and organizations as well as external observers of African affairs. This is not the first time African countries have proposed a new organizational and institutional structure for development. African countries have signed at least 13 regional trade agreements (RTAs) for intraregional trade since 1959. However, the track record of these groups has been relatively mediocre compared to RTAs elsewhere. Thus, Africa has the lowest percentage of intracontinental trade in the world. This volume evaluates the prospects and challenges for the AfCFTA through a deep-dive assessment of previous trade blocs on the African continent and of regional free trade areas in other parts of the world. The central question of the book is this: If pre-AfCFTA trade blocs in Africa did not encourage more intracontinental trade, what guarantees that the AfCTA will? The formation of the AfCFTA will definitely remove overlapping membership that existed with previous trading blocs on the continent, but what is different about the AfCFTA that will get rid of cumbersome regulation, boost manufacturing, and create jobs? This book argues that the dreams of AfCFTA will not be realized unless African countries make efforts to address the industry mix of their economies and to enforce the rules and regulations they set down on paper.

Going Beyond Aid

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Publisher : Cambridge University Press
ISBN 13 : 1316943216
Total Pages : 281 pages
Book Rating : 4.3/5 (169 download)

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Book Synopsis Going Beyond Aid by : Justin Yifu Lin

Download or read book Going Beyond Aid written by Justin Yifu Lin and published by Cambridge University Press. This book was released on 2017-01-20 with total page 281 pages. Available in PDF, EPUB and Kindle. Book excerpt: Developing countries have for decades been trying to catch up with the industrialized high-income countries, but only a few have succeeded. Historically, structural transformation has been a powerful engine of growth and job creation. Traditional development aid is inadequate to address the bottlenecks for structural transformation, and is hence ineffective. In this book, Justin Yifu Lin and Yan Wang use the theoretical foundations of New Structural Economics to examine South-South development aid and cooperation from the angle of structural transformation. By studying the successful economic transformation of countries such as China and South Korea through 'multiple win' solutions based on comparative advantages and economy of scale, and by presenting new ideas and different perspectives from emerging market economies such as Brazil, India and other BRICS countries, they bring a new narrative to broaden the ongoing discussions of post-2015 development aid and cooperation as well as the definitions of aid and cooperation.

Africa and the Sustainable Development Goals

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Author :
Publisher : Springer
ISBN 13 : 3030148572
Total Pages : 295 pages
Book Rating : 4.0/5 (31 download)

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Book Synopsis Africa and the Sustainable Development Goals by : Maano Ramutsindela

Download or read book Africa and the Sustainable Development Goals written by Maano Ramutsindela and published by Springer. This book was released on 2019-06-13 with total page 295 pages. Available in PDF, EPUB and Kindle. Book excerpt: The book draws upon the expertise and international research collaborations forged by the Worldwide Universities Network Global Africa Group to critically engage with the intersection, in theory and practice, of the Sustainable Development Goals (SDGs) and Africa’s development agendas and needs. Further, it argues that – and demonstrates how – the SDGs should be understood as an aspirational blueprint for development with multiple meanings that are situated in dynamic and contested terrains. As the SDGs have substantial implications for development policy and resourcing at both the macro and micro levels, their relevance is not only context-specific but should also be assessed in terms of the aspirations and needs of ordinary citizens across the continent. Drawing on analyses and evidence from both the natural and social sciences, the book demonstrates that progress towards the SDGs must meet demands for improving human well-being under diverse and challenging socio-economic, political and environmental conditions. Examples include those from the mining industry, public health, employment and the media. In closing, it highlights how international collaboration in the form of research networks can enhance the production of critical knowledge on and engagement with the SDGs in Africa.

Socio-economic and cultural impacts of COVID-19 on Africa

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Author :
Publisher : UNESCO Publishing
ISBN 13 : 9231003895
Total Pages : 43 pages
Book Rating : 4.2/5 (31 download)

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Book Synopsis Socio-economic and cultural impacts of COVID-19 on Africa by : UNESCO

Download or read book Socio-economic and cultural impacts of COVID-19 on Africa written by UNESCO and published by UNESCO Publishing. This book was released on 2020-07-21 with total page 43 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Emerging Africa

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Author :
Publisher : Penguin UK
ISBN 13 : 0141979461
Total Pages : 432 pages
Book Rating : 4.1/5 (419 download)

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Book Synopsis Emerging Africa by : Kingsley Chiedu Moghalu

Download or read book Emerging Africa written by Kingsley Chiedu Moghalu and published by Penguin UK. This book was released on 2014-07-24 with total page 432 pages. Available in PDF, EPUB and Kindle. Book excerpt: A rare and timely intervention from Kingsley Chiedu Moghalu, Deputy Governor of the Central Bank of Nigeria, on development in Africa. To many, Africa is the new frontier. As the West lies battered by financial crisis, Africa is seen as offering limitless opportunities for wealth creation in the march of globalization. But what is Africa to today's Africans? Are its economies truly on the rise? And what is its likely future? In this pioneering book, leading international strategist Kingsley Moghalu challenges conventional wisdoms about Africa's quest for growth. Drawing on philosophy, economics and strategy, he ranges from capitalism to technological innovation, finance to foreign investment, and from human capital to world trade to offer a new vision of transformation. Ultimately he demonstrates how Africa's progress in the twenty-first century will require nothing short of the reinvention of the African mindset. 'Africans seriously analyzing Africa's opportunities are all too rare. Kingsley Moghalu writes with insight and authority' Paul Collier 'Savvy . . . distinguished' Mark Malloch-Brown 'Unique in the depth of its insight, the ambition of its scope, and the clarity of its argument. Kingsley Moghalu brings a remarkable intellect and his vast experience to this tour de force on Africa's economic transformation. This is a truly weighty contribution to understanding Africa's developmental dilemma and its quest for a more prosperous future' Ngozi Okonjo-Iweala 'Insightful and analytical . . . sheds instructive light on Africa's position in the world. It is a testament to the palpable optimism that encompasses Africa while frankly addressing the myriad challenges that lie ahead for its economic transformation' Shashi Tharoor Kingsley Chiedu Moghalu is Deputy Governor of the Central Bank of Nigeria. He was the Founder and CEO of Sogato Strategies S.A., a global strategy and risk management consulting firm in Geneva, Switzerland. He has previously worked for the United Nations for 17 years in strategic planning, legal, development finance and executive management. His previous books include Global Justice and Rwanda's Genocide.

Man Out

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Author :
Publisher : Brookings Institution Press
ISBN 13 : 0815732759
Total Pages : 340 pages
Book Rating : 4.8/5 (157 download)

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Book Synopsis Man Out by : Andrew L. Yarrow

Download or read book Man Out written by Andrew L. Yarrow and published by Brookings Institution Press. This book was released on 2018-09-11 with total page 340 pages. Available in PDF, EPUB and Kindle. Book excerpt: The story of men who are hurting—and hurting America by their absence Man Out describes the millions of men on the sidelines of life in the United States. Many of them have been pushed out of the mainstream because of an economy and society where the odds are stacked against them; others have chosen to be on the outskirts of twenty-first-century America. These men are disconnected from work, personal relationships, family and children, and civic and community life. They may be angry at government, employers, women, and "the system" in general—and millions of them have done time in prison and have cast aside many social norms. Sadly, too many of these men are unsure what it means to be a man in contemporary society. Wives or partners reject them; children are estranged from them; and family, friends, and neighbors are embarrassed by them. Many have disappeared into a netherworld of drugs, alcohol, poor health, loneliness, misogyny, economic insecurity, online gaming, pornography, other off-the-grid corners of the internet, and a fantasy world of starting their own business or even writing the Great American novel. Most of the men described in this book are poorly educated, with low incomes and often with very few prospects for rewarding employment. They are also disproportionately found among millennials, those over 50, and African American men. Increasingly, however, these lost men are discovered even in tony suburbs and throughout the nation. It is a myth that men on the outer corners of society are only lower-middle-class white men dislocated by technology and globalization. Unlike those who primarily blame an unjust economy, government policies, or a culture sanctioning "laziness," Man Out explores the complex interplay between economics and culture. It rejects the politically charged dichotomy of seeing such men as either victims or culprits. These men are hurting, and in turn they are hurting families and hurting America. It is essential to address their problems. Man Out draws on a wide range of data and existing research as well as interviews with several hundred men, women, and a wide variety of economists and other social scientists, social service providers and physicians, and with employers, through a national online survey and in-depth fieldwork in several communities.

The African Continental Free Trade Area

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Author :
Publisher :
ISBN 13 : 9781464815591
Total Pages : 160 pages
Book Rating : 4.8/5 (155 download)

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Book Synopsis The African Continental Free Trade Area by : The World Bank

Download or read book The African Continental Free Trade Area written by The World Bank and published by . This book was released on 2020-08 with total page 160 pages. Available in PDF, EPUB and Kindle. Book excerpt: The African Continental Free Trade Area (AfCFTA) agreement will create the largest free trade area in the world, measured by the number of countries participating. The pact will connect 1.3 billion people across 55 countries with a combined GDP valued at $3.4 trillion. It has the potential to lift 30 million people out of extreme poverty by 2035. But achieving its full potential will depend on putting in place significant policy reforms and trade facilitation measures. The scope of the agreement is considerable. It will reduce tariffs among member countries and cover policy areas, such as trade facilitation and services, as well as regulatory measures, such as sanitary standards and technical barriers to trade. It will complement existing subregional economic communities and trade agreements by offering a continent-wide regulatory framework and by regulating policy areas--such as investment and intellectual property rights protection--that have not been covered in most subregional agreements. The African Continental Free Trade Area: Economic and Distributional Effects quantifies the long-term implications of the agreement for growth, trade, poverty reduction, and employment. Its analysis goes beyond that in previous studies that have largely focused on tariff and nontariff barriers in goods--by including the effects of services and trade facilitation measures, as well as the distributional impacts on poverty, employment, and wages of female and male workers. It is designed to guide policy makers as they develop and implement the extensive range of reforms needed to realize the substantial rewards that the agreement offers. The analysis shows that full implementation of AfCFTA could boost income by 7 percent, or nearly $450 billion, in 2014 prices and market exchange rates. The agreement would also significantly expand African trade--particularly intraregional trade in manufacturing. In addition, it would increase employment opportunities and wages for unskilled workers and help close the wage gap between men and women.