Abstract
The classical school regards international trade as the main engine of growth. But modern empirical studies have failed to show any simple and generally consistent correlation between foreign trade statistics and macro-economic aggregates such as savings, Investment, consumption and growth1. The more generally accepted view is that development through trade where it occurred was partly the consequence of favourable internal environment. What are the prospects for growth through trade in West Africa in the 1980s?
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References
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World Bank: Accelerated Development in Sub-Saharan Africa: An Agenda for Action, Washington, August 1980, p. 2.4.
Ibid. World Bank: Accelerated Development in Sub-Saharan Africa: An Agenda for Action, Washington, August 1980. p. 3.2.
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Ibid, World Bank: World Development Report, Washington 1981, p. 3.9.
Cf. I. Frank: Trade Policy Issues for the Developing Countries in the 1980s, World Bank Staff Working Paper No. 478, 1981, p. 4.
Cf. Eduardo Lizano: Integration of Less Developed Areas and of Areas on Different Levels of Development, in: F. Machlup (ed.): Economic Integration: Worldwide, Regional, Sectoral, London 1976, p. 276.
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Ezenwe, U. Trade and growth in West Africa in the 1980s. Intereconomics 17, 190–197 (1982). https://doi.org/10.1007/BF02927917
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DOI: https://doi.org/10.1007/BF02927917