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This paper attempts to estimate the effect of corruption on the flows of exports and imports of African countries. Using the gravity model approach and annual data for the period 1998-2007, we obtain negative and statistically significant correlations between the values of exports and imports and the levels of corruption in Africa and trading partners. Thus the results support the view that corruption adversely affects international trade. Our estimates suggest that if a country with Africa's average corruption perception index of 2.8 were to improve its corruption level to Botswana's 5.9, its exports would improve by about 15 per cent and imports by about 27 per cent. Copyright 2009 The Authors. Journal compilation 2009 Blackwell Publishing Ltd.

PurposeThe growing investment gap and the declining foreign aid in recent years have compelled many African countries to turn to foreign direct investment (FDI) as a means to avoid development financing constraints. This article seeks to examine the performance of FDI flow to various regions and countries in Africa and the implication(s) on FDI of the recently launched new partnership for Africa's Development (NEPAD) programs.Design/methodology/approachExplores strategies for accelerating the flow of FDI to Africa, especially the implications of NEPAD programs.FindingsAfrica's FDI inflows are highly uneven both between regions and between countries depending on economic and political environment. In addition, if implemented successfully, NEPAD programs would help spur the flow of FDI to Africa.Originality/valueBesides the socio‐economic policy recommendations, suggests marketing strategies to help increase the flow of FDI to Africa.

This paper provides an answer to the question who should, if any, lead a marketing channel? We consider a channel consisting of one manufacturer and one retailer where each player controls his advertising rate and margin. Supposing that advertising has a carry over effect on demand, we adopt a dynamic model. Nash and Stackelberg equilibria are characterised and outcomes compared with an efficient coordinated solution. Our findings suggest that manufacturer's leadership reduces inefficiency in a channel and is more beneficial to the consumer.

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The effectiveness of cooperative advertising programs is studied in a market where two competing manufacturers deal with an exclusive retailer and two products. Two twostage game theoretic models are developed to analyze the long-term effects of retailer's promotions, which can be positive or negative, on the effectiveness of cooperative advertising. Closed-form equilibrium solutions are obtained and compared. We find that the level of product substitutability and the sign and magnitude of the long-term effects of retailer's promotions on sales determine whether cooperative advertising should be offered and accepted by the manufacturers and retailer. In particular, depending on the level of product substitutability, cooperative advertising can benefit both the manufacturers and retailer even when retailer's promotions negatively affects future sales.Conversely, it may not be in the interest of the manufacturers to offer cooperative advertising when the products are fairly undifferentiated regardless of the nature of the * Research of the first author is supported by the National Sciences and Engineering Council of Canada (NSERC). Grant # 1509. The second author's research is partially supported by MEC under project ECO2014-52343-P, co-financed by FEDER funds and the COST Action IS1104 "The EU in the new economic complex geography: models, tools and policy evaluation".† The authors thank the editor and three anonymous reviewers for their useful comments and suggestions in improving this manuscript.

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