An authoritative examination of the key themes in Africa's recent fiscal reforms and trade liberalization and her prospects for improving trade and development, by the leading scholars in the field. The impact of trade liberalization, and the linking of aid and trade by donor countries, is also investigated.

Acknowledgements Notes on Contributors Introduction; D.Bevan, P.Collier, N.Gemmell & D.Greenaway PART ONE: TRADE REFORM ISSUES Timing and Sequencing Issues for Trade Liberalization in Africa; R.Falvey & C.D.Kim African Trade Liberalizations: Alternative Strategies for Sustainable Reform; P.Collier & J.W.Gunning Donor Trade Benefits from Aid: Evidence from the EC and Sub-Saharan Africa; O.Morrissey The Credibility Problem and the Speed of Trade Liberalisation: Modelling the Costs of Speculative Behaviour with an Application to Kenya; R.Reinikka PART TWO: FISCAL REFORM ISSUES The Design of Fiscal Reforms in Revenue-Constrained Developing Countries; C.Bliss Tax Revenue Instability in Sub-Saharan Africa: Causes and Consequences; M.Bleaney, N.Gemmell & D.Greenaway Analysing the Incidence of Taxes in the Cote d'Ivoire; N.C.Chia, S.Wahba & J.Whalley Tax Reform in Tanzania; N.E.Osoro PART THREE: INTERFACES Fiscal Implications of Trade Liberalization; D.Bevan The Fiscal Impact of Trade Reforms in Tanzania in the 1980s; W.Lyakurwa Portfolio Responses to Trade Policy Incredibility; P.Collier & J.W.Gunning Index

MICHAEL BLEANEY Centre for Research in Economic Development and International Trade (CREDIT), University of Nottingham CHRISTOPHER BLISS Nuffield College, Oxford NGEE CHOON CHIA Department of Economics and Statistics, University of Singapore RODNEY FALVEY Department of Economics, Faculty of Economics and Commerce, Australian National University JAN WILLEM GUNNING Free University, Amsterdam CHA DONG KIM Ministry of Science and Technology, Korea WILLIAM LYAKURWA African Economics Research Consortium, Nairobi OLIVER MORRISSEY CREDIT, University of Nottingham NEHEMIAH E. OSORO Department of Economics, University of Dar es Salaam RITVA REINIKKA African Technical Department, The World Bank SADEK WAHBA African Technical Department, The World Bank JOHN WHALLEY Department of Economics, University of Warwick

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