The Gambia - trials of a small open economy

Abstract

Though a developing country, the Gambia is relatively more competitive compared to other West African countries. However, there is still muc~ room for improvement, but this will require consistenTY i~ the maintenance of macroeconomic policies and the establishment of an appropriate legal and regulatory framework. It will also require the right mix of institutions with the requisite human and institutional strengths. The chapter identifies the smallness ofthe economy, skills limitations, information constraints, institutional weaknesses, barriers to competition as the most important factors working against international competitiveness in The Gambia. The paper proposes that a central body be set up in The Gambia, entrusted with the arduous task of promoting and ensuring competitiveness.