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Front Cover -- Contents -- Foreword -- Acknowledgments -- About the Editors and Contributors -- Main Messages -- Executive Summary -- Abbreviations -- Overview -- The Untapped Economic Potential of Sub-Saharan Africa's Oil, Gas, and Mineral Resources -- The Legacy and Lessons from Africa's Commodity Price Boom and Bust -- Unlocking the Mining Sector's Economic Potential through Regional Integration and the African Continental Free Trade Area -- Looking Ahead to Africa's Resource Future -- Notes -- References -- Chapter 1 The Untapped Economic Potential of Sub-Saharan Africa's Oil, Gas, and Mineral Resources -- Introduction -- The Significant Rise in Resource-Rich Countries across Africa in the Past Two Decades -- The Untapped Resource Potential of Africa -- Unlocking SME Potential in the Mining Sector -- Conclusions -- Policy Recommendations -- Annex 1A Analysis of Trade Elasticities -- Notes -- References -- Chapter 2 The Legacy and Lessons of Africa's Commodity Price Boom and Bust -- Introduction -- Outcome 1: Economic Growth in Resource-Rich Africa Collapsed Once Commodity Prices Fell -- Outcome 2: Poverty Has Deepened in Resource-Rich Sub-Saharan African Countries -- Outcome 3: Inequality Has Persisted in Resource-Rich Sub-Saharan African Countries -- Outcome 4: Despite Significant Earnings during the Boom, Resource-Rich Africa Failed to Diversify Its Economies -- Export Concentration: The Boom Drove Increased Export Concentration -- Asset Concentration: What Happened to the Wealth of Nations? -- Outcome 5: Governance Was an Important Determining Factor in Outcomes for Resource-Rich Countries -- Governing New Discoveries and Managing Expectations: The Risk of the Presource Curse -- Managing Macroeconomic Risks -- Resource-Backed Loans Carry Hidden Risks -- Conclusions: Insights from the Boom-and-Bust Cycle -- Notes -- References.

Front Cover -- Contents -- Foreword -- Acknowledgments -- About the Contributors -- Abbreviations -- Overview: Market Access Strategy in a New Trade Environment -- Introduction -- Ingredients for Sub-Saharan Africa's Market Access Strategy -- How Can Sub-Saharan African Countries Boost Exports through Preferential Access to the EU and US Markets? -- How Can Sub-Saharan African Countries Diversify Their Market Access? -- How Could Regional Integration Initiatives Help This Dual Strategy to Succeed? -- Contributions of This Volume -- Notes -- References -- PART I Access to Traditional Markets: Taking Stock of Nonreciprocal Trade Agreements and the Way Forward -- Chapter 1 Trade Impact of the AGOA: An Aggregate Perspective -- Introduction -- The African Growth and Opportunity Act -- Trade Flows from Sub-Saharan Africa to the United States -- Impact of the AGOA: Results from the Synthetic Control Method -- Main Drivers of Exports under the AGOA -- Conclusion -- Annex 1A The Synthetic Control Method -- Notes -- References -- Chapter 2 Preferential Access to the United States and Manufacturing Export Performance: A Product-Level Analysis -- Introduction -- A Product-Level Perspective from Disaggregated Export Data -- US Trade Preferences: The GSP and AGOA -- African Export Performance and the Role of the AGOA -- Estimated Impacts of the AGOA and GSP LDC -- Conclusion -- Annex 2A WITS Sectoral Definition, Sub-Saharan Africa Data, and Commodity Prices -- Annex 2B Impacts of the AGOA on Exports and Export Patterns -- Annex 2C AGOA Impacts, by Country -- Notes -- References -- Chapter 3 Comparative Analysis of AGOA and EBA Impacts: Evidence from West Africa -- Introduction -- Estimations of the Trade Impacts of the AGOA and EBA -- ECOWAS Exports to the European Union and the United States since 2000 -- Empirical Specifications and Data.

"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"--

AbstractApplying panel threshold regression technics along with alternative econometric investigation on a panel database of 48 sub‐Saharan African (SSA) countries over the period 2000–2012, this paper analyzes the structure of housing finance in SSA countries and mainly verifies if there is a threshold effect on shared prosperity. Independently of the method used, our findings offer strong evidence of an inverted U‐shaped relationship between housing finance and inequality. The current level of development of housing finance in SSA, which is at its very early stage, is not yet an effective tool for reducing economic inequality; however, beyond a given threshold, housing finance becomes effective in reducing inequality. Indeed, higher values of housing finance depth above a certain threshold of 6.35% reduce inequality, whereas values below 6.35% and very high values have no significant impact. In addition, there is a slightly positive relationship between housing finance and labor productivity growth in SSA. Results also show that the way housing finance impact inequality is highly dependent on their ability to implement effective crisis fight policies. Controlling for countries' income levels, legal origin, and regional proximity revealed relative benchmarking, typology, and characteristics of SSA housing finance. These findings suggest some policies to stimulate the development of housing finance in SSA. As a bonus, this paper also highlights several other pillars that can be used to support shared prosperity in SSA.

This paper explores the landscape, contributions, and determinants of sovereign wealth funds' long-term investments in Sub-Saharan Africa. The study finds that of all regions, Africa receives the lowest share of investment from sovereign wealth funds, and the landscape is dominated by Asian funds. The investment strategies of sovereign wealth funds established by African countries tend to be to invest less domestically and more abroad, contrary to Asian funds. In addition, using an enriched simple mean-variance portfolio model with an exponential utility function, the analysis shows that the investment rate of return and political connections have a positive and significant effect on sovereign wealth fund investments, and risk exerts a negative but not significant effect. The paper confirms these results empirically, using a database that includes 26 sovereign wealth fund investments over 1985-2013. Hence, sovereign wealth funds investing in Africa care more about high returns and the political interests of their country of origin than the risk of their investment.