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date: 21 October 2019

Abstract and Keywords

Africa has been experiencing an economic resurgence. Despite the global economic crisis, Africa’s GDP has been growing rapidly. However, the sustainability of this growth is threatened by low competitiveness, in particular stemming from very weak institutions and inadequate infrastructure. Drawing on global experience this chapter examines how microeconomic reforms, including regulatory reforms in particular, can enhance Africa’s competitiveness. Freed from unnecessary regulations, greater domestic competition could create a strong stimulus to the economy. The network utilities in particular suffer from low investment and poor performance, which could be reversed through well-executed regulatory reforms. However, such reforms challenge the vested interests and can be difficult to implement. The chapter explains how regionalization of regulation can strengthen the ability of national governments to credibly commit to reforms and can help create larger markets for infrastructure investment, thus underpinning economic growth.

Keywords: regulatory reform, Africa, competitiveness, deregulation, regulation, regionalization, economic growth, employment, infrastructure

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