Open AccessOn the economic thought of trade practices and policies in Kenya
Author(s) -
Socrates Kraido Majune,
Davis Kimuli Mwania
Publication year - 2021
Publication title -
estudios económicos
Language(s) - English
Resource type - Journals
eISSN - 2525-1295
pISSN - 0425-368X
DOI - 10.52292/j.estudecon.2021.2256
Subject(s) - mercantilism , barter , colonialism , economics , international trade , trade barrier , free trade , promotion (chess) , economic integration , international free trade agreement , international economics , political science , market economy , law , politics
This study explains trade regimes in Kenya from a History of Economic Thought (HET) perspective using secondary materials (books, papers, and original manuscripts). We found that the pre-colonial era (before 1895) had a mixture of Classical doctrines and Mercantilism, whereby long-distance and barter trade between communities were practiced. Nonetheless, certain communities restricted trade. Classical economic thought was practiced in the colonial period (1895-1962), whereby agricultural produce was exported and less expensive consumables were imported. The post-colonial period started with a Mercantilism approach (Importsubstitution), but successive regimes have promoted Classical doctrines of trade by reducing import and export barriers and creating trade-promotion institutions. Trade in services, which is topical in international trade, has also been promoted in this regime.