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nd it involves the transfer and assimilation of knowledge and technology all along the supply chain. Information prevalent at the micro level tends to accumulate at industry level. However, this requires dynamic interaction at all levels, from conception through to production and the market. Thus, the role of networking and partnering relationships is instrumental in promoting knowledge diffusion and innovation. (Visser et al, 2004:21)

 

The nature of the underlying market structure in which industries operate has significant implications for firm-level conduct and performance. Invisible trade barriers significantly increase the cost and risk of doing business, thereby affecting the competitiveness of firms and, above all, prohibiting access of smaller firms to regional markets (Visser et al, 2004:10). Again, the lack of access to information about trading partners, investment opportunities and incentives all contribute to hesitance on the part of firms to extend their undertakings within the region.

 

“Development and competitive pricing is severely constrained by such information inefficiencies; thereby further reducing market opportunities” (Visser et al, 2004:12). In South Africa, the ability of firms to build efficient supply networks is largely obstructed by poor communication systems cased by limited infrastructure, high cost, inefficiency and unreliability due to regulated service provision. The implication is that potential social capital development among entrepreneurs and managers are severely undersized and underdeveloped.

 

The mixed messages from contradictory policies (within and between countries in the region) are a further major restriction to cross-border investment. Thus, it is clear that the turning point for high transaction costs to contribute to integration will only occur if a radical reduction in costs occurs. Barriers to entry, whether visible or invisible, automatically increase the risk profile of doing business within regions and therefore directly affect the behaviour of firms. (Visser et al, 2004:12)

 

Therefore it is safe to say that counter attacking policies need to be brought to the table. It is also essential that the role of these instruments as explanatory variables for low intra-regional trade should be considered in the formulation of industry support policies aimed at providing incentives for productivity enhancement, industrial development, investment and trade expansion. (Visser et al, 2004:11)

 

The real message for policy makers is that invisible controls and barriers to trade are increasingly what prohibit industrialisation and general growth in regions. Eliminating direct costs of doing business and reducing the confusing signals given to firms will hold enormous benefits for all regions in question. Such adjustments could increase trade and investment and should thus restructure economic activity towards greater competitiveness. (Visser et al, 2004:12)

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