Papers by Richard Mshomba
Since independence, African states have been striving for economic development, but relatively fe... more Since independence, African states have been striving for economic development, but relatively few countries have achieved their goal. Between 1970 and 2016, real GDP per capita in sub-Saharan Africa grew by an annual average of just 0.48%. However, there was a wide range of economic performance across different countries, as well as clear variation in growth rates over time. Countries such as the Central African Republic, Democratic Republic of Congo, Liberia, and Madagascar had, on average, a negative growth rate in terms of real GDP per capita. Meanwhile, countries such as Botswana, Lesotho, Mauritius, Seychelles, and Swaziland had positive average annual growth rates of at least 3%. The differences in economic growth rates reflect the diversity of economic structures, governance, and political stability across African states. Although deeper economic integration among African countries may work to reduce the large disparities in economic development, any projections must nonetheless recognize that countries will differ in their economic trajectories. Variation over time is also important. The dominant patterns of economic development in sub-Saharan Africa in the 1980s and 1990s on the one hand, and the 1970s and past the 1990s on the other, were quite different, reflecting a long business cycle. If we look solely at economic growth statistics, the 1980s and 1990s can be described as lost decades. On average, real GDP per capita on the continent declined annually by 1.54% and 0.62% in the 1980s and 1990s, respectively. By contrast, between 2000 and 2016, real GDP per capita increased by an annual average of 2.13%. One important debate has focused on whether these shifts are primarily the result of domestic or international factors. Structural adjustment programs (SAPs) imposed by the International Monetary Fund (IMF) and the World Bank have been blamed for the decline in the economic fortunes of African countries in the 1980s. At the same time, they are praised for pulling many countries out of unsustainable macroeconomic policies. Moreover, a balanced overview of Africa’s development trajectory must conclude that even without major policy shifts such as those brought forth by the SAPs, many countries would still have remained highly dependent on one or just a few commodities, and would therefore have continued to experience wild swings in their business cycles in the absence of international intervention. The lack of economic diversification of many economies on the continent means that the future is hard to predict. However, the prerequisites for a prosperous Africa are not a mystery—they include good governance, economic diversity, and genuine economic integration.
Cambridge University Press eBooks, Mar 30, 2009
WTO TRIPS and its effect on the supply and development of medicines in China A recent conference ... more WTO TRIPS and its effect on the supply and development of medicines in China A recent conference at the University of Hong Kong just prior to the December 2005 World Trade Organization (WTO) talks renewed attention on the WTO's Agreement on Trade-Related Aspects of Intellectual Property Rights (TRIPS), in particular in relation to China. Here we provide an introduction to TRIPS, discuss compulsory licensing, and take two angles to view how TRIPS affects the supply and development of medicines in China. We look at both recent positive developments in the Chinese pharmaceutical and biotechnology industry, and also at how TRIPS can hamper the supply of medicines using HIV treatment as an example.
Cambridge University Press eBooks, Sep 13, 2017
Cambridge University Press eBooks, Sep 13, 2017
Cambridge University Press eBooks, Mar 30, 2009
Economic Integration in Africa
Economic Integration in Africa
Oxford Research Encyclopedia of Politics, 2019
Since independence, African states have been striving for economic development, but relatively fe... more Since independence, African states have been striving for economic development, but relatively few countries have achieved their goal. Between 1970 and 2016, real GDP per capita in sub-Saharan Africa grew by an annual average of just 0.48%. However, there was a wide range of economic performance across different countries, as well as clear variation in growth rates over time. Countries such as the Central African Republic, Democratic Republic of Congo, Liberia, and Madagascar had, on average, a negative growth rate in terms of real GDP per capita. Meanwhile, countries such as Botswana, Lesotho, Mauritius, Seychelles, and Swaziland had positive average annual growth rates of at least 3%. The differences in economic growth rates reflect the diversity of economic structures, governance, and political stability across African states. Although deeper economic integration among African countries may work to reduce the large disparities in economic development, any projections must nonethe...
Africa and the World Trade Organization
Lynne Rienner Publishers eBooks, Feb 1, 2000
Trade-Related Policies The Generalized System of Preferences Two Gatt Agreements - Agriculture an... more Trade-Related Policies The Generalized System of Preferences Two Gatt Agreements - Agriculture and Textiles and Clothing International Commodity Agreements Regional Economic Integration.
Economic Integration in Africa
Economic Integration in Africa
Economic Integration in Africa
Economic Integration in Africa
Economic Integration in Africa
The Road to Monetary Union analyzes, in non-technical language, the process leading to adoption o... more The Road to Monetary Union analyzes, in non-technical language, the process leading to adoption of a common currency for the European Union. The monetary union process involved different issues at different times and the contemporary global background mattered. The Element explains why monetary union was attempted and failed in the 1970s, and why the process was restarted in 1979, accelerated after 1992 and completed for a core group of EU members in 1999. It asks why euro membership expanded in the 2000s, but still does not include all EU members. It analyzes connections between eurozone membership and Greece's sovereign debt crisis. It concludes with analysis of how the eurozone works today and with discussion of its prospects for the 2020s. The approach is primarily economic, while acknowledging the role of politics (timing) and history (path dependence). A theme is to challenge simplistic ideas (e.g. that the euro has failed) with fuller analysis of competing pressures to shape the nature of monetary union.
In this work, Richard E. Mshomba offers an in-depth analysis of economic integration in Africa wi... more In this work, Richard E. Mshomba offers an in-depth analysis of economic integration in Africa with a focus on the East African Community (EAC), arguably the most ambitious of all the regional economic blocs currently in existence in Africa. Economic Integration in Africa provides more than just an overview of regional economic blocs in Africa; it also offers a rich historical discussion on the birth and death of the first EAC starting with the onset of colonialism in the 1890s, and a systematic analysis of the birth, growth, and aspirations of the current EAC. Those objectives include forming a monetary union and eventually an East African political federation. This book also examines the African Union's aspirations for continent-wide integration as envisioned by the Abuja Treaty. Mshomba carefully argues that maturity of democracy and good governance in each country are prerequisites for the formation of a viable and sustainable East African federation and genuine continent-wide integration.
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Papers by Richard Mshomba