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Regional Cooperation And Integration In Sub-Saharan Africa

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  • Martina Metzger

Abstract

Africa has a long tradition of regional cooperation, its trade and monetary integration schemes being the oldest in the developing world. This paper analyses the state of regional integration with respect to trade and financial relations in selected regional schemes in Central, Southern and West Africa. The paper concludes that in particular regional monetary integration offers advantages in terms of monetary stability, growth, competitiveness, deepening of financial markets and ownership compared with an indiscriminately integration of individual countries into the global economy. Thus, great significance must attached to cooperation between Member States. Although trade and financial integration can be mutually enforcing, a minimum level of regional activities is required to set this process in motion. Until the necessary threshold is achieved, Member States have a vital role in organizing and delivering regional activities, e.g. the development of bond markets or the promotion of production networks.

Suggested Citation

  • Martina Metzger, 2008. "Regional Cooperation And Integration In Sub-Saharan Africa," UNCTAD Discussion Papers 189, United Nations Conference on Trade and Development.
  • Handle: RePEc:unc:dispap:189
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    File URL: http://www.unctad.org/en/docs/osgdp20084_en.pdf
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    Cited by:

    1. Jörg Mayer, 2009. "Policy Space: What, for What, and Where?," Development Policy Review, Overseas Development Institute, vol. 27(4), pages 373-395, July.
    2. Jörg Mayer, 2013. "Towards More Balanced Growth Strategies In Developing Countries: Issues Related To Market Size, Trade Balances And Purchasing Power," UNCTAD Discussion Papers 214, United Nations Conference on Trade and Development.
    3. Bicchetti, David & Maystre, Nicolas Maystre, 2013. "The synchronized and long-lasting structural change on commodity markets: Evidence from high frequency data," Algorithmic Finance, IOS Press, vol. 2(3-4), pages 233-239.
    4. André Nassif & Carmem Feijó & Eliane Araújo, 2015. "Structural change and economic development: is Brazil catching up or falling behind?," Cambridge Journal of Economics, Oxford University Press, vol. 39(5), pages 1307-1332.
    5. Jaime de Melo & Mariem Nouar & Jean-Marc Solleder, 2017. "Integration along the Abuja road map: A progress report," WIDER Working Paper Series 103, World Institute for Development Economic Research (UNU-WIDER).
    6. Emanuele Bacchiocchi & Alessandro Missale, 2015. "Multilateral indexed loans and debt sustainability," Oxford Review of Economic Policy, Oxford University Press, vol. 31(3-4), pages 305-329.
    7. Giovanni Andrea Cornia & Bruno Martorano, 2012. "Development Policies and Income Inequality in Selected Developing Regions, 1980–2010," UNCTAD Discussion Papers 210, United Nations Conference on Trade and Development.
    8. Leo Frey & Ulrich Volz, 2013. "Regional Financial Integration In Sub-Saharan Africa – An Empirical Examination Of Its Effects On Financial Market Development," South African Journal of Economics, Economic Society of South Africa, vol. 81(1), pages 79-117, March.
    9. Jörg Mayer, 2010. "Global Rebalancing: Effects On Trade Flows And Employment," UNCTAD Discussion Papers 200, United Nations Conference on Trade and Development.
    10. Stephany Griffith-Jones, 2014. "A Brics Development Bank: A Dream Coming True?," UNCTAD Discussion Papers 215, United Nations Conference on Trade and Development.
    11. Amelia U. Santos-Paulino, 2012. "Trade, Income Distribution And Poverty In Developing Countries: A Survey," UNCTAD Discussion Papers 207, United Nations Conference on Trade and Development.
    12. Lisa Borgatti, 2011. "Economic Integration in Sub-Saharan Africa," Chapters,in: International Handbook on the Economics of Integration, Volume I, chapter 20 Edward Elgar Publishing.
    13. Sebastian Dullien, 2009. "Central Banking, Financial Institutions And Credit Creation In Developing Countries," UNCTAD Discussion Papers 193, United Nations Conference on Trade and Development.
    14. Christopher L. Gilbert, 2010. "Speculative Influences On Commodity Futures Prices 2006-2008," UNCTAD Discussion Papers 197, United Nations Conference on Trade and Development.
    15. Peter Bofinger, 2011. "The Scope For Foreign Exchange Market Interventions," UNCTAD Discussion Papers 204, United Nations Conference on Trade and Development.
    16. Carlos M. Correa, 2015. "Intellectual property: How much room is left for industrial policy?," UNCTAD Discussion Papers 223, United Nations Conference on Trade and Development.
    17. Andrew Cornford, 2014. "Macroprudential Regulation: Potential Implications For Rules For Cross-Border Banking," UNCTAD Discussion Papers 216, United Nations Conference on Trade and Development.
    18. André Nassif & Carmem Feijó & Eliane Araújo, 2011. "The Long-Term “Optimal” Real Exchange Rate And The Currency Overvaluation Trend In Open Emerging Economies: The Case Of Brazil," UNCTAD Discussion Papers 206, United Nations Conference on Trade and Development.
    19. Ugo Panizza & Federico Sturzenegger & Jeromin Zettelmeyer, 2010. "International Government Debt," Business School Working Papers 2010-03, Universidad Torcuato Di Tella.
    20. Pilar Fajarnes, 2011. "An Overview Of Major Sources Of Data And Analyses Relating To Physical Fundamentals In International Commodity Markets," UNCTAD Discussion Papers 202, United Nations Conference on Trade and Development.
    21. Ulrich Hoffmann, 2015. "Can green growth really work and what are the true (socio-)economics of Climate Change?," UNCTAD Discussion Papers 222, United Nations Conference on Trade and Development.
    22. Enrique Cosio-Pascal, 2008. "The Emerging Of A Multilateral Forum For Debt Restructuring: The Paris Club," UNCTAD Discussion Papers 192, United Nations Conference on Trade and Development.
    23. Shigehisa Kasahara, 2013. "The Asian Developmental State And The Flying Geese Paradigm," UNCTAD Discussion Papers 213, United Nations Conference on Trade and Development.
    24. Javier Lindenboim & Damián Kennedy & Juan M. Graña, 2011. "Share Of Labour Compensation And Aggregate Demand – Discussions Towards A Growth Strategy," UNCTAD Discussion Papers 203, United Nations Conference on Trade and Development.
    25. Filimonov, Vladimir & Bicchetti, David & Maystre, Nicolas & Sornette, Didier, 2014. "Quantification of the high level of endogeneity and of structural regime shifts in commodity markets," Journal of International Money and Finance, Elsevier, vol. 42(C), pages 174-192.

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