Foreign Direct Investment, Investment Agreements and Economic Development: Myths and Realities
Foreign direct investment (FDI) is one of the most ambiguous and the least understood concepts in international economics. Common debate on FDI is confounded by several myths regarding its nature and impact on capital accumulation, technological progress, industrialization and growth. It is often portrayed as a long term, stable, cross-border flow of capital that adds to productive capacity, helps meet balance-of-payments shortfalls, transfers technology and management skills, and links domestic firms with wider global markets. However, none of these are intrinsic qualities of FDI. (more…)
International Investment Agreements and Africa’s Structural Transformation: A Perspective from South Africa
The brief describes the widening debate on the implications of international investment agreements (IIAs) for sustainable development. This debate is particularly relevant in Africa as the continent’s new economic development programme to effect structural transformation and achieve sustainable development may well be constrained by the terms and conditions imposed by IIAs. (more…)
Globalization, Export-Led Growth and Inequality: The East Asian Story
Over the last three decades, several East Asian economies have grown by leaps and bounds. The success of their export-led growth model is regarded, and copied, by many emerging economies as a sure path to achieve high-income status. But with impressive growth came worsening inequality both in personal income and functional income distribution. (more…)
SDGs: G77 position on economic issues and finance and technology
By Mr. Peter Thomson
The Group holds the view that the post-2015 development agenda should build on existing commitments and lessons learned from the implementation of the MDGs to ensure that new initiatives, both at international and national levels, reinforce previous successes while address important implementation gaps and systemic shortcomings.
We believe a transformative global development agenda must fulfill five key policy objectives: rapid and sustained economic growth; industrialisation; full employment; greater distributional equity; and environmental sustainability. (more…)
Global Value Chains (GVCs) from a Development Perspective
The current discourse on Global Value Chains by key proponents and also the WTO Secretariat is that developing countries should liberalise – in goods and services, and conclude a Trade Facilitation Agreement. (more…)
EU-ACP Economic Partnership Agreements: Current State of Play.
This note provides an overview of the EPA negotiations. It illustrates the fact that the same critical contentious issues persist in the EPAs across various regional blocs. It also highlights the concerns of the highest political authorities of ACP States regarding the EPAs and the inherent dangers for (more…)
Operationalising the 2002 LDC Accession Guidelines: An Analysis.
Benchmarks to ‘further strengthen, streamline and operationalize’ the 2002 LDC Accession Guidelines have been developed. The following conclusions can be made regarding these benchmarks: (more…)
National Financial Policy in Developing Countries.
A fundamental question raised by recurrent financial crises in mature and emerging economies is how to ensure that the financial markets and institutions serve growth and development rather than being a constant source of instability and disruption in pursuit of self-interest. (more…)
Trade trends are changing quite rapidly for Africa. A careful analysis of Africa’s export statistics reveals startling facts regarding the markets that are most important for Africa today, and in the years to come. (more…)
The Impact of the Global Economic Crisis on Industrial Development of Least Developed Countries.
The South Centre has released a Research Paper which examines the impact of the external shocks from the global economic crisis on industrial development of Least Developed Countries (LDCs). These countries are heavily exposed to external shocks because of their extensive trade with the rest of the world. Yet, they are marginalized in terms of their share in international trade and output. (more…)
EPAs: The Wrong Development Model for Africa And Options for the Future.
The EPAs provide the wrong development model for Africa, and will jeopardize African countries’ development and regional integration prospects, rather than support them. Until now, only 10 out of 47 African countries have signed the EPA – most are dragging out the negotiations because they are reluctant or are resisting signing, due to their anti-developmental content. (more…)
Industrialisation and Industrial Policy in Africa: Is It a Policy Priority?.
The importance of industrialisation as an engine of economic growth and development cannot be overstated. Industrial production creates job opportunities at higher skill levels, facilitates denser links across the services and agricultural sectors, between rural and urban economies and between consumer, intermediate and capital goods industries. (more…)
