International Economic Law and African Development discusses international perspectives on African law and economic development in the light of broader globalisation imperatives. It is the third in what can loosely be described as a series on Africa and gobalisation by the Mandela Institute, the first two being Globalisation and Governance and International Economic Law - Voices of Africa.
To take Africa from the edge to the centre of the global economy, it is critical to engage African voices in policy discussions on the global political economy. With Africa's projected economic importance in the future and South Africa's prominent role in the G-20 and BRICS, it is vital that this part of the world is involved in restructuring the rules and principles of international economic law. This book examines themes dealing with cross border trade, investment, development and finance issues.
Offering a study of regionalism in Africa and investigating the ways in which law can be used to address the issues raised by regional processes on the continent, this book examines the African Economic Community, considering that it has been entrusted to coordinate and to harmonize policies between various Regional Economic Communities (RECs) across the continent, thereby influencing the continent’s approach towards regional integration. It seeks to identify how law can be used to strengthen the African RECs while ensuring that they achieve their goal of promoting regional development across the continent. Drawing upon economic and political theories, and using a critical doctrinal analysis of legal texts and norms, the book uncovers the legal and economic underpinnings of the model of regional integration followed by the regional schemes operating under the banner of the AEC, aiming to contribute to the search for effective methods to ensure the success of these various initiatives. Proposing the concept of "Regional Developmentalism Through Law" as the most suitable conceptual framework to support the effective establishment of an African Economic Community, this book will be of interest to researchers, academics and policy makers interested in the correlation between law, regional integration and development in Africa.
The book assesses emerging powers’ influence on international economic law and analyses whether their rhetoric of reforming this ‘unjust’ order translates into concrete reforms. The questions at the heart of the book surround the extent to which Brazil, Russia, India, China, and South Africa individually and as a bloc (BRICS) provide alternative regulatory ideas to those of ‘Western’ States and whether they are able to convert their increased power into influence on global regulation. To do so, the book investigates two broader case studies, namely, the reform of international investment agreements and WTO reform negotiations since the start of the Doha Development Round. As a general outcome, it finds that emerging powers do not radically challenge established law. ‘Third World’ rhetoric mostly does not translate into practice and rather serves to veil economic interests. Still, emerging powers provide for some alternative regulatory ideas, already leading to a diversification of international economic law. As a general rule, they tend to support norms that allow host States much policy space which could be used to protect and fulfil socio-economic human rights, especially – but not only – in the Global South.
This book studies the international investment law regime in Africa and provides a comprehensive analysis of the current treaty practices in Africa from global, regional and domestic perspectives. It develops a public interest regulation theory to highlight the role of investment regulation in sustainable development and the protection of human rights. In doing so, the book identifies seven factors that should be considered by arbitrators in resolving international investment disputes that affect the public interest. It considers how corporations can be held accountable through investment treaties in the absence of a global treaty on business and human rights while protecting the rights of investors and their investments. Furthermore, the book explores the current objectives and features of investor-state dispute settlement (ISDS) as well as the deficiencies and its intersection with the rule of law. It identifies alternatives for ISDS and the extent to which these alternatives address the objectives of attracting investment, depoliticise investment disputes, promote the rule of law and offer remedies to investors. These solutions are offered in relation to the protection of human rights, the promotion of sustainable development and the right of states to introduce domestic public interest regulation. Finally, the book takes a prospective stance and discusses future trends for dispute settlement and investment rulemaking in Africa.
This book explores how law and policy makers within the Southern African Development Community regional structure might reform the legal and regulatory frameworks to best capitalise the benefits of the movement of people, drawing lessons from other experienced jurisdictions by critically engaging with the regulatory efforts and approaches in regions such as the European Union, the Economic Community of West African States, and the East African Community to propose a revised approach to migration governance and practice in the SADC. Deeper regional integration allows citizens to move freely across national boundaries, and services are a rising component of global trade and investment. However, global trade in services is stifled by barriers at and behind the border. These barriers make it difficult for service providers from developing regions to access key markets in their preferred modes of service trade. Against this background, this book aims to take the discussion on furthering regional integration and trade through the movement of people by tackling issues on stringent immigration policies, arguing that having a vibrant and rewarding trade in services will require an approach towards the unrestricted movement of persons.
The debates over what African economic integration and development actually entails continue across international economic organizations, national governments and NGOs. Despite the glare of media attention and the position this issue has on international political agendas, few comprehensive accounts exist that fully examine why this process will be inevitable in the 21st century and how integration of national economies can be attuned to attaining the socio-economic goals and aspirations of member-countries. This book addresses this problem. It combines theory with application, enumerating the imperatives and initiatives governments will be forced to confront; providing insights for educators and students in African development, for policy makers in African governments, and for inter-governmental organizations.
