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Meta-trends in global value chains and development: interacting impacts with COVID-19 in Africa

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  • Pádraig Carmod

Abstract

How will the COVID-19 pandemic affect prospects for foreign investment and development in Africa? In part this depends on its interaction with pre-existing metatrends in the global economy, such as the coming Fourth Industrial Revolution (4IR). It will also depend on the nature of revisions to political settlements in Africa arising from the pandemic. This paper explores these issues through an examination of the direct and indirect economic impacts of the pandemic and their likely interaction with meta-trends in the global economy. In particular it argues that while there is still an important role for foreign investment, the crisis also creates opportunities for more domestically-focused investment and production.

Suggested Citation

  • Pádraig Carmod, . "Meta-trends in global value chains and development: interacting impacts with COVID-19 in Africa," UNCTAD Transnational Corporations Journal, United Nations Conference on Trade and Development.
    • Handle: RePEc:unc:tncjou:47
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    References listed on IDEAS

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    1. Andy Sumner & Christopher Hoy & Eduardo Ortiz-Juarez, 2020. "Estimates of the impact of COVID-19 on global poverty," WIDER Working Paper Series wp-2020-43, World Institute for Development Economic Research (UNU-WIDER).
    2. Whitfield,Lindsay & Therkildsen,Ole & Buur,Lars & Kjær,Anne Mette, 2015. "The Politics of African Industrial Policy," Cambridge Books, Cambridge University Press, number 9781107105317, October.
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    Cited by:

    1. Zarlasht Razeq, . "Deep trade integration and North-South participation in global value chains," UNCTAD Transnational Corporations Journal, United Nations Conference on Trade and Development.

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