Contents
Abbreviations and Acronyms
Executive Summary
1. Introduction
2. ECOWAS Economic Performance and Investment Patterns
2.1 Introduction
2.2 Aggregate and sectoral output growth performance
2.3 Structure of output in ECOWAS countries
2.4 Rate and structure of investment
2.5 Financing investment
3. The Domestic Investment Framework
3.1 The domestic legal framework for investment
3.2 Entry and establishment conditions
3.3 Regulation of ownership and operations
3.4 Investment incentives
3.5 Dispute settlement arrangements
3.6 Internalising foreign investment benefits
4. Bilateral and Regional Investment Arrangements and Treaties
4.1 Bilateral investment treaties involving West Africa and the EU countries
4.2 Bilateral investment treaties and investment performance in West Africa
4.3 ACP-EU regional investment arrangements
4.4 Regional investment agreements and FDI flows to West Africa
5. International Institutions and Enterprise Development in West Africa
5.1 Introduction
5.2 Enterprise development mandate
5.3 Private sector investment and support services
5.4 Competition and complementarity in enterprise development support
5.5 Does European Investment Bank funding ‘crowd out’ local resources?
5.6 Enhancing the impact of support for private sector development
6. Investment Negotiations in the Economic Partnership Agreements
6.1 Introduction
6.2 Investment agreement issues
6.3 Options in a West Africa-EU EPA investment agreement
6.5 What are the investment provisions of the interim EPA texts of Ghana and Côte d’Ivoire?
7. Conclusions and Recommendations
References
Tables
2.1 ECOWAS states: average annual growth rate of GDP
2.2 ECOWAS states: average annual growth rate of output by sector
2.3 ECOWAS states: structure of output – sectoral contribution to GDP
2.4 ECOWAS states: average annual rate of investment (gross domestic investment as a ratio of GDP)
2.5 ECOWAS states: structure of domestic investment (gross domestic investment as a ratio of GDP) – average annual rate
2.6 ECOWAS states: average annual rate of domestic savings (savings as a ratio of GDP)
2.7 ECOWAS states: average annual rate of savings-investment gap (resource balance as a ratio of GDP)
2.8 ECOWAS states: average annual rate of gross foreign direct investment (gross FDI as a ratio of GDP)
2.9 ECOWAS states: average annual rate of savings-investment gap net of gross FDI (resource balance net of gross FDI as a ratio of GDP)
4.1 BITs involving West African and EU countries, 1962–2000
4.2 Relevant provisions for investment in BITs involving EU and ECOWAS countries
4.3a Foreign direct investment, net inflows (current US$ million), 1980–1990
4.3b Foreign direct investment, net inflows (current US$ million), 1991–2001
4.4 Net capital flow from Europe to Nigeria, 1990–2001 (US$ million)
4.5 Provisions on investment and industrial development in the Lomé Conventions
4.6 Foreign direct investment inflows to West Africa (current US$ million)
5.1 International Finance Corporation investment in West Africa, 30 June 2004
5.2 Foreign Investment Advisory Service projects in West Africa, 1987–2004
5.3 European Investment Bank financing in West Africa, 1999–2003 (€ million)
6.1 Economic size and investment ratios, 2000
6.2 Investment promotion and protection provisions in selected EU FTAs
6.3 Current payments and capital movements in EU FTAs