The development process can advance more rapidly than ever before in the new global economy. While opening their economies to trade and investment is a necessary condition for developing countries to achieve sustained high growth and reduce poverty, it is by no means a sufficient condition....

The African Growth Opportunity Act (AGOA) and Everything But Arms (EBA), two preferential agreements extended by the United States (AGOA) and the European Union (EU) (EBA) to some developing countries seem to have contributed somewhat to boost Sub-Saharan Africa's exports since 2001. However,...