Outline the main components of trade liberalization, Microeconomics

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Problem:

"Mauritius offers an interesting case study of successful trade liberalization and export-led development in Sub-Saharan Africa. This is a notable achievement given that a number of African countries are still struggling with trade reforms and vain attempts at export diversification".

(a) Outline the main components of trade liberalization in Mauritius. Do you think that these measures have made Mauritian industry more efficient and competitive? Explain.

(b) What lessons of good practice will other African countries draw from Mauritius's experience with trade liberalization.


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