CAROLYN JENKINS works at the Centre for the Study of African Economies, University of Oxford, and at the Centre for Research into Economics and Finance in Southern Africa, London School of Economics. She has been a consultant to governments and international institutions on macroeconomic issues, trade policy and regional integration in Southern Africa. - JONATHAN LEAPE is founding Director of the Centre for Research into Economics and Finance in Southern Africa at the London School of Economics and Lecturer in Economics. He has undertaken numerous studies of economic and financial policy issues facing South and Southern Africa and has acted as consultant for a wide range of institutions. - LYNNE THOMAS is a Researcher with the Centre for Research into Economics and Finance in Southern Africa at the London School of Economics. Her research focuses on macroeconomic convergence in Southern Africa; the role of regional integration in promoting growth; and the characteristics of capital flows in Southern Africa.

• Acknowledgements List of Abbreviations Notes on Contributors Gaining From Trade in South Africa; C.Jenkins, J.Leape & L.Thomas The Macroeconomic Policy Framework; C.Jenkins & L.Thomas Taxation and Fiscal Adjustment; J.Leape Constraints on Foreign Direct Investment; R.Hess Microeconomic Policies; G.Maasdorp Export Promotion Arrangements ; N.Hill Compensatory Mechanisms; C.Jenkins References Appendices Index

CAROLYN JENKINS works at the Centre for the Study of African Economies, University of Oxford, and at the Centre for Research into Economics and Finance in Southern Africa, London School of Economics. She has been a consultant to governments and international institutions on macroeconomic issues, trade policy and regional integration in Southern Africa. - JONATHAN LEAPE is founding Director of the Centre for Research into Economics and Finance in Southern Africa at the London School of Economics and Lecturer in Economics. He has undertaken numerous studies of economic and financial policy issues facing South and Southern Africa and has acted as consultant for a wide range of institutions. - LYNNE THOMAS is a Researcher with the Centre for Research into Economics and Finance in Southern Africa at the London School of Economics. Her research focuses on macroeconomic convergence in Southern Africa; the role of regional integration in promoting growth; and the characteristics of capital flows in Southern Africa.

• Acknowledgements List of Abbreviations Notes on Contributors Gaining From Trade in South Africa; C.Jenkins, J.Leape & L.Thomas The Macroeconomic Policy Framework; C.Jenkins & L.Thomas Taxation and Fiscal Adjustment; J.Leape Constraints on Foreign Direct Investment; R.Hess Microeconomic Policies; G.Maasdorp Export Promotion Arrangements ; N.Hill Compensatory Mechanisms; C.Jenkins References Appendices Index

CAROLYN JENKINS works at the Centre for the Study of African Economies, University of Oxford, and at the Centre for Research into Economics and Finance in Southern Africa, London School of Economics. She has been a consultant to governments and international institutions on macroeconomic issues, trade policy and regional integration in Southern Africa. - JONATHAN LEAPE is founding Director of the Centre for Research into Economics and Finance in Southern Africa at the London School of Economics and Lecturer in Economics. He has undertaken numerous studies of economic and financial policy issues facing South and Southern Africa and has acted as consultant for a wide range of institutions. - LYNNE THOMAS is a Researcher with the Centre for Research into Economics and Finance in Southern Africa at the London School of Economics. Her research focuses on macroeconomic convergence in Southern Africa; the role of regional integration in promoting growth; and the characteristics of capital flows in Southern Africa.

• Acknowledgements List of Abbreviations Notes on Contributors Gaining From Trade in South Africa; C.Jenkins, J.Leape & L.Thomas The Macroeconomic Policy Framework; C.Jenkins & L.Thomas Taxation and Fiscal Adjustment; J.Leape Constraints on Foreign Direct Investment; R.Hess Microeconomic Policies; G.Maasdorp Export Promotion Arrangements ; N.Hill Compensatory Mechanisms; C.Jenkins References Appendices Index