Assessing Regional Integration in Africa

ECA Policy Research Report

image of Assessing Regional Integration in Africa

This report provides a comprehensive evaluation of the state of Africa’s integration process, showing where efforts have succeeded or failed including why intra African trade remains low; and how lack of macro-economic policy convergence and insufficient infrastructures hamper integration.



Money and finance

Monetary integration is crucial in regional economic integration. Strong monetary integration is required if regional integration objectives go beyond free trade agreements or custom unions to a truly unified common market (Eichengreen 1998). International trade increases significantly when countries adopt an advanced form of monetary cooperation such as a common currency (Rose 1999; Glick and Rose 2001; Bun and Klaassen 2002). So does economic performance and output per capitain participating countries (Frankel and Rose 2000).


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