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Periodical article Periodical article Leiden University catalogue Leiden University catalogue WorldCat catalogue WorldCat
Title:International trade and African development
Author:Rweyemamu, J.F.
Periodical:Nigerian Journal of International Studies
Geographic term:Africa
Subject:international trade
Abstract:The major policy issue emanating from current theory of international trade is, in the context of African countries, that trade should be pursued as 'an engine of growth' and should be 'free'. For establishing these propositions there are several necessary assumptions. This article examines the congruence of some of these assumptions with the existing reality and the significance of the deviations from those assumptions for the validity of the conclusions of received III theory as they affect Africa's development. It is conceded that invalidity of some of the assumptions might not necessarily invalidate the major conclusions of the theory. But it is the burden of this article to argue that incorrect specification of the fundamental assumptions leads, at least in this case, to inaccurate predictions and wrong policy actions. Notes table.