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Welfare and Regional Integration Agreements: Lessons for Africa

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  • Fatima Ezzahra Mengoub
  • Tharcisse Guedegbe
  • Will Martin

Abstract

In the developing world, regional integration is frequently seen as an opportunity to promote development. However, historical facts and economic literature remind us that the success of economic integration is not always guaranteed, and numerous considerations should be taken into account in designing such agreements. This short paper considers the broad reasons for countries forming regional integration agreements, including strengthening trade relations, improving investments, boosting economic performance, and finally, enhancing foreign relations. It also explores the travails of the multilateral trading system and then considers the differences between Customs Unions and Free Trade Areas. Finally, it analyzes the approaches used to evaluate the basic economic impacts of agreements.

Suggested Citation

  • Fatima Ezzahra Mengoub & Tharcisse Guedegbe & Will Martin, 2018. "Welfare and Regional Integration Agreements: Lessons for Africa," Policy notes & Policy briefs 1821, Policy Center for the New South.
  • Handle: RePEc:ocp:ppaper:pb1821
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    References listed on IDEAS

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    1. Kyle Handley & Nuno Limão, 2018. "Policy Uncertainty, Trade, and Welfare: Theory and Evidence for China and the United States," World Scientific Book Chapters, in: Policy Externalities and International Trade Agreements, chapter 5, pages 123-175, World Scientific Publishing Co. Pte. Ltd..
    2. Mary Amiti & Jozef Konings, 2007. "Trade Liberalization, Intermediate Inputs, and Productivity: Evidence from Indonesia," American Economic Review, American Economic Association, vol. 97(5), pages 1611-1638, December.
    3. Antoni Estevadeordal & Caroline Freund & Emanuel Ornelas, 2008. "Does Regionalism Affect Trade Liberalization Toward Nonmembers?," The Quarterly Journal of Economics, Oxford University Press, vol. 123(4), pages 1531-1575.
    4. Maurice Schiff & L. Alan Winters, 2003. "Regional Integration and Development," World Bank Publications, The World Bank, number 15172, July.
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