African Political Economy in the Twenty-First Century

This book contributes to the debate concerning the future of the political economy of African development by addressing the important question of how African countries can strategically approach global political economy at multilateral, continental, and regional levels in view of North-South versus South-South configurations.

African Political Economy in the Twenty-First Century: Theories, Perspectives, and Issues edited by Emeka C. Iloh, Ernest T. Aniche, and Stephen N. Azom fills the gap in the discourses on African political economy from an African perspective. Since the end of colonialism in the second half of the twenty-first century, a wide-ranging debate has opened on the future of African development and the nature and character of its political economy, especially as it concerns its web of relationships in the international political and economic system. Two decades into the twenty-first21st century, the debate still rages on and is likely to continue for a long time. This book contributes to the debate by addressing the important question of how African countries can strategically and tactically approach global political economy at multilateral, continental, and regional levels in view of North-South versus South-South configurations. African Political Economy in the Twenty-First Century further suggests how African countries can effectively utilize global forces to Africa’s advantage in advancing domestic, regional, and continental development objectives.

List of Figures and Tables

Foreword by Kelechi Kalu

Preface

Acknowledgments

Introduction: Africa and the International Political Economy: Reflections on the Dynamics of Multilateralism in the 21st Century by Emeka C. Iloh, Ernest T. Aniche, and Stephen N. Azom

Part One: Ontological, Epistemological and Theoretical Issues

Chapter 1: International Political Economy: Concepts, Theories, and Thematic Ramifications by Al Chukwuma Okoli, and Dominic Degraft Arthur

Chapter 2: Theories of International Trade: Perspectives from Africa by Denis Nfor Yuni

Chapter 3: Transcending Neo-functionalism: Towards a New Theory of Regional Integration in Africa by Ernest T. Aniche, Okechukwu Richard Oji, and Victor H. Mlambo

Chapter 4: Dependency and Development Question in Africa by Ademola Azeez and Segun Oshewolo

Part Two: Africa and the Purveyors of Global Political Economy

Chapter 5: Africa and the World Bank: An Environmental Perspective by Olawari D. J. Egbe

Chapter 6: African Development Bank and the Dynamics of African Political Economy by Stephen N. Azom and Moses Etila Shaibu

Chapter 7: Group of Seven (G7) and Development Trajectories in Africa by Gafar Idowu Ayodeji and Iseoluwa Raphael Olayinka

Part Three: Multilateralism, Integration and Trade System in Africa

Chapter 8: Regional Integration and Economic Growth in North Africa: Resilience or Fading Agenda by Jude Odigbo, Remi Chukwudi Okeke, and Chigozie Joseph Nebeife

Chapter 9: Regionalism and Regional Integration in East Africa: Contradictions and Challenges by Nzube Aguchukwu Chukwuma and Emmanuel Chukwunonye Ojukwu

Chapter 10: African Continental Free Trade Area (AfCFTA) and Regional Integration in Africa: Issues and Prospects by Queeneth Odichi Ekeocha, Patrick Nwabueze Ubru, Chukwuemeka Vincent Muoneke and Emeka C. Iloh

Chapter 11: International Trade, South-South Cooperation and African Integration by Kenechukwu Udoka Udibe

Chapter 12: Liberalism and Protectionism in International Trade: Options for African Political Economy by Sunday Orinya

Chapter 13: International Trade Wars and Decline in Economic Diplomacy: Should Africa Really Be Worried? by Ifeanyi P. Maduechesi

Chapter 14: International Trade Policies and Politics of Food Security in Africa by Emeka C. Iloh, Clement Okonkwo and Nnabuike Christopher Anikwudike

Part Four: International Finance and Development Issues in Africa

Chapter 15: Washington Consensus, North-South Relations and African Development by Andre Ben-Moses Akuche and Goddy U. Osimen

Chapter 16: International Financial Flows and Development in Africa by Felix Aja Elechi and Kennedy Chibuike Ohazuruike

Chapter 17: Political Economy of Foreign Direct Investments in Africa: Critical Reflections by Jerry Mathekga

Chapter 18: Political Economy of Aid and Official Development Assistance in Sub-Saharan Africa by Olabode Agunbiade

Chapter 19: Africa and International Philanthropy: The Good, the Bad and the Ugly by Toyin Cotties Adetiba

Chapter 20: Debts, Extraction and Predation: Defacing the New Foreign Regimes of Indebtedness in Kenya by Stephen Mutie

About the Editors and Contributors