Global Economic crisis and Trade outcomes in OIC: The case of African members
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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.
Keywords
HF5601 Accounting