From the LSE Blog:
Existing trade arrangements in sub-Saharan Africa should be complemented by requisite conditions that enable agricultural and industrial advancements, says LSE alumna Zama Nkosi.More here
During a series of seminal lectures on the Evolution of the International Trade Order, economist Sir Arthur Lewis explained the positive implications for trade once industrialisation takes shape. He did this by tracing this history in developed countries with the aim of extracting lessons that could be applied to developing countries. In his concluding remarks, he argued that:
“International trade became an engine of growth in the nineteenth century, but not its proper role. The engine of growth should be technological change, with international trade serving as lubricating oil and not as fuel. The gateway to technological change is through agricultural and industrial revolutions, which are mutually dependent. International trade cannot substitute for technological change, so those who depend on it as their major hope are doomed to frustration.”