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Trade in the WAEMU

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Author Info

  • Hans Weisfeld
  • Manuela Goretti

Abstract

This paper provides an overview of trade reform in the West African Economic and Monetary Union (WAEMU) since 1996 and a quantitative assessment of potential effects on trade patterns and tariff revenue of the current reform agenda. Despite evidence of significant trade complementarities within WAEMU, implementation of the union''s current trade regime still suffers from persistent non-tariff barriers and administrative weaknesses. Based on an assessment of prospects for further trade integration, the paper also recommends strengthening the implementation of the present tariff union and supports the plan to extend it to all ECOWAS members. Finally, the paper stresses that an Economic Partnership Agreement with the EU could bring to the region the political momentum needed to address the weaknesses of the current trade regime, while also underlining the corresponding challenges in terms of trade diversion and tariff revenue losses.

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Bibliographic Info

Paper provided by International Monetary Fund in its series IMF Working Papers with number 08/68.

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Length: 24
Date of creation: 01 Mar 2008
Date of revision:
Handle: RePEc:imf:imfwpa:08/68

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Related research

Keywords: Trade; West African Economic and Monetary Union; Tax revenues; trade liberalization; trade diversion; tariff revenue; tariff rates; trade regime; export performance; tariff rate; rules of origin; trade facilitation; trade integration; multilateral liberalization; tariff cuts; tariff schedule; average tariff; exporters; trade creation; trade patterns; trade preferences; external tariff; trade reform; multilateral trade; net exports; import prices; tariff barriers; average tariff rates; imported goods; import tariffs; world economy; trade tax revenue; exporter; multilateral trade liberalization; import tariff; tariff lines; oil prices; free trade; monetary union; preferential trade; total exports; cotton exports; world market; tariff revenue losses; restrictive rules of origin; trade agreements; domestic consumption; volume of trade; export industries; nontariff barriers; trade barriers; import price; equilibrium model; transport costs; export sectors; world trade organization; export volume; oil exporter; tariff structure; reexport; partial equilibrium; world prices; quantitative restrictions; average tariff rate; import demand; terms of trade; tariff reductions; trading partner; trade area; trade policy review; world trade; trade liberalisation; export structure; safeguard measures; regional integration; international trade; tariff preferences; free trade area; trade deficit; world exports; trade taxes; welfare-reducing trade diversion; preferential tariff; market opening; import side; quota-free access; accelerating growth; export subsidy; tariff-free access; tariff union; customs documents; trade arrangements; domestic producers; preference erosion; customs administration; tariff levels; re-export; trade agreement; value-added tax; formal trade; clearance times; tax concessions; average import tariff; free trade agreement; neighboring countries; bloc trade; import structure; domestic industries; export subsidy program; multilateral trade reform; regional trade; trade relations; preferential access; national treatment; non-tariff barriers; diverting trade; trade volumes; liberal rules; import products; poverty alleviation; tariff reduction; preferential trade arrangements; trading partners; preferential tariffs; preferential trade agreements; average tariff levels; elasticity of substitution; nondiscrimination principle; global trade; global trade liberalization; export crop; preferential market access; export competition; trade performance; preferential agreements; member country; export commodities; trade facilitation measures; expanding trade; indirect tax; trade data;

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References

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  1. Michael Keen & Johanna Elisabeth Ligthart, 1999. "Coordinating Tariff Reduction and Domestic Tax Reform," IMF Working Papers 99/93, International Monetary Fund.
  2. Kym Anderson & Will Martin & Dominique van der Mensbrugghe, 2005. "Would Multilateral Trade Reform Benefit Sub-Saharan Africans?," Centre for International Economic Studies Working Papers 2005-18, University of Adelaide, Centre for International Economic Studies.
  3. John S. Wilson & Catherine L. Mann & Tsunehiro Otsuki, 2005. "Assessing the Benefits of Trade Facilitation: A Global Perspective," The World Economy, Wiley Blackwell, vol. 28(6), pages 841-871, 06.
  4. Romain Wacziarg & Karen Horn Welch, 2008. "Trade Liberalization and Growth: New Evidence," World Bank Economic Review, World Bank Group, vol. 22(2), pages 187-231, June.
  5. Charalambos G. Tsangarides & Jan Kees Martijn, 2007. "Trade Reform in the CEMAC," IMF Working Papers 07/137, International Monetary Fund.
  6. Arvind Panagariya, 2002. "EU Preferential Trade Arrangements and Developing Countries," The World Economy, Wiley Blackwell, vol. 25(10), pages 1415-1432, November.
  7. Michaely, Michael, 1996. "Trade preferential agreements in Latin America : an ex-ante assessment," Policy Research Working Paper Series 1583, The World Bank.
  8. Yongzheng Yang, 2005. "Africa in the Doha Round," IMF Policy Discussion Papers 05/8, International Monetary Fund.
  9. Dollar, David & Kraay, Aart, 2001. "Trade, growth, and poverty," Policy Research Working Paper Series 2615, The World Bank.
  10. L. Alan Winters & Neil McCulloch & Andrew McKay, 2004. "Trade Liberalization and Poverty: The Evidence So Far," Journal of Economic Literature, American Economic Association, vol. 42(1), pages 72-115, March.
  11. L. Alan Winters, 2002. "Trade Liberalisation and Poverty: What are the Links?," The World Economy, Wiley Blackwell, vol. 25(9), pages 1339-1367, 09.
  12. Michael Keen & Thomas Baunsgaard, 2005. "Tax Revenue and (or?) Trade Liberalization," IMF Working Papers 05/112, International Monetary Fund.
  13. Hoekman, Bernard & Ozden, Caglar, 2005. "Trade preferences and differential treatment of developing countries : a selective survey," Policy Research Working Paper Series 3566, The World Bank.
  14. Andrew Berg & Anne O. Krueger, 2003. "Trade, Growth, and Poverty," IMF Working Papers 03/30, International Monetary Fund.
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Citations

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Cited by:
  1. Montfort Mlachila & Tidiane Kinda, 2011. "The Quest for Higher Growth in the WAEMU Region," IMF Working Papers 11/174, International Monetary Fund.
  2. Magazzino, Cosimo, 2012. "Revenue and expenditure nexus: A case study of ECOWAS," Economics Discussion Papers 2012-57, Kiel Institute for the World Economy.
  3. Mario MANSOUR & Grégoire ROTA-GRAZIOSI, 2013. "Tax coordination, tax competition, and revenue mobilization in the west african economic and monetary union," Working Papers P81, FERDI.
  4. Gilles Duffrenot & Kimiko Sugimoto, 2010. "Pegging the future West African single currency in regard to internal/external competitiveness: a counterfactual analysis," William Davidson Institute Working Papers Series wp974, William Davidson Institute at the University of Michigan.
  5. Yvonne Sperlich & Stefan Sperlich, 2012. "Income Development and Sigma convergence in South–South Agreement Areas," Research Papers by the Institute of Economics and Econometrics, Geneva School of Economics and Management, University of Geneva 12031, Institut d'Economie et Econométrie, Université de Genève.

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