OBSTACLES TO STRENGTHENING ECONOMIC INTEGRATION IN THE WEST AFRICAN ECONOMIC AND MONETARY UNION


FE Doukouré Charles[1]

ENSEA/CAPEC

Abstract

This paper analyses the obstacles to strengthening economic integration in the West African Economic and Monetary Union (WAEMU). Several studies show, firstly, that strengthening economic integration it requires an increase of intra-trade in Regional Trade Agreements (RTAs). Then, this work identifies the factors both economic and policies that limit economic integration in WAEMU and in which way all efforts have improved the dynamic of economic integration among member countries.

In order to rank such potential obstacles, the study develops an extended gravity model, using a panel dataset for WAEMU from 1995 to 2013 for all countries members. Bilateral trade flows between members countries are used as dependant variable.

Besides the classic variables (income, per capita income, distance and area), the effects of three factors (infrastructure, economic policy and political tensions) were taken into account. The empirical results show that the state of infrastructure gaps -in particular telecommunications and transport networks greatly –slows down economic integration within WAEMU.



[1] 08 Bp 2160 Abidjan 08, fe.doukoure@ensea.ed.ci

 


Recent Publications - View all