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Global Economic crisis and Trade outcomes in OIC: The case of African members

Osabuohien, E. S. C. and Efobi, Uchenna Global Economic crisis and Trade outcomes in OIC: The case of African members. Revised Paper Presented at International Conference on “Economic & Trade Integration among OIC Member Countries.

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Global economic crisis, which is characterised by price fluctuations across the world, has generated several debates. The crisis is threatening the economic and financial fabrics of most countries with varying degrees of effects due to differences in country’s structural framework. This may have some implications on trade outcomes. For instance, merchandise exports as a percentage of GDP for SSA reduced by 17.9% between 1995 and 2007. Thus, this paper investigates the effects of global economic crisis on trade outcomes using some indicators, namely: trade share in world market, trade per capita, and real growth in trade in selected OIC Members in Africa. This was achieved by employing data sourced from World Trade Indicators and World Development Indicators, which were analysed with descriptive analysis and econometric techniques based panel data framework for the period 1995-2008. It was established, among others, that trade outcomes of OIC Members in Africa are adversely and significantly influenced by global economic crisis. The results, inter alia, call for inward-looking alternatives such as pursuance of investment friendly ambience in enhancing their trade outcomes.

Item Type: Article
Subjects: H Social Sciences > HF Commerce > HF5601 Accounting
Divisions: Faculty of Law, Arts and Social Sciences > School of Social Sciences
Depositing User: Mrs Patricia Nwokealisi
Date Deposited: 08 Oct 2013 11:02
Last Modified: 08 Oct 2013 11:02

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