Regional Integration and Trade in Africa

Regional integration has been adopted by many African governments as a response to difficulties facing national markets in landlocked countries. However, despite the aspiring targets they have experienced setbacks due to poor implementation. This book reviews the current trends, challenges and potential benefits of regional integration and trade in Africa, in a context of rising interest and momentum among African leaders on the topic.

This study explores the many facets of regional trade, its implementation gaps and positive effects through empirical studies covering various African sub-regions and using different theoretical approaches. It analyses trade performance against full potential, its mitigated impact on the competitiveness, industrialization and economic diversification of African countries as well as the much debated effect of monetary unions on regional trade in the region. It provides valuable policy recommendations aimed at stimulating the debate among the government, private sector and development community on the ways to promote regional trade for Africa's economic development.

Regional Integration and Trade in Africa examines various aspects of regional integration and trade in Africa, and will be of interest to scholars, students, researchers, policy-makers, and professionals.

Professor Mthuli Ncube is the Chief Economist and Vice President of the African Development Bank. He holds a PhD in Mathematical Finance from Cambridge University, UK. Before joining the Bank, he was Dean at the University of the Witwatersrand (Wits) and before that was Dean and Professor of Finance at Wits Business School in South Africa. He has published widely in the area of finance and economics. He also has extensive experience as an Investment Banker.
 
Issa Faye is currently the Manager of the Research Division. Prior to joining the African Development Bank, he worked as an economist at the World Bank in the Research Department and the Rural Development Network of the Africa Region. Prior to this he was a lecturer at University of Auvergne /CERDI, France, from where he holds a Ph.D. in Economics and a researcher for the Centre National de la Recherche Scientifique (CNRS).

Audrey Verdier-Chouchane is Chief Research Economist in the Development Research Department. Prior to joining the African Development Bank, Audrey taught Macroeconomics and Development Economics at the University of Nice, France, from where she holds a Ph.D. in Economics. She has mainly published on the analysis and measurement of poverty and inequalities.

Overview Chapter: Understanding Africa's Regional Trade; Mthuli Nucbe, Issa Faye and Audrey Verdier-Chouchane

PART I: INTRA-AFRICAN TRADE PERFORMANCE AND REGIONAL INTEGRATION

1. Competitiveness and Integration through Trade in CEMAC Countries: Comparative Advantage and Contribution to the Trade Balance; Jospeh Parfait Owoundi

2. Economic integration, Trade Facilitation and Agricultural Exports Performance in ECOWAS Sub-Region; Wumi Olayiwola, Evans Osabuohien, Henry Okodua and Oluyomi Ola-David

3. The Impact of Trade Liberalization on Export Growth and Import Growth in Sub-Saharan Africa; Lanre Kassim

PART II: MEASURING TRADE POTENTIAL: THE GRAVITY MODEL APPROACH

4. Market Integration in the ECCAS Sub-Region; Désiré Avom and Mouhamed Mbouandi Njikam

5. Regional Integration and Trade in Sub-Saharan Africa, 1993-2010: An Augmented Gravity Model; Edris Seid

PART III: INDUSTRIALIZATION STRATEGY AND THE ISSUE OF DEINDUSTRIALIZATION

6. Malawi's Trade Policies, Market Structure, and Manufacturing Performance, 1967-2002; Hopestone Kayiska Chavula

7. Impact of South-South and North-South Trade on Industrialization in Africa; Henri Atangana Ondoa and Tabi Henri Ngoa

PART IV: IMPACT OF CURRENCY UNION ON TRADE

8. Impact of Monetary Unions on Trade: The Case of WAEMU; Ibrahima Camara

9. Trade Agreements and Flows in ECOWAS: Is a Single Currency the Determining Factor?; Benjamin Ndong and Sokhana Diarra Mboup

10. A DSGE Model of Trade and Risk-sharing Effects of Currency Union on Economic Integration of the CFA Zone; Thierry Kame Babilla

Concluding Chapter: Enhancing Intra-African Trade through Regional Integration; Mthuli Ncube, Issa Faye and Audrey Verdier-Chouchane