Discussion Papers

October 8, 2014

Regional Integration In Africa: Some Recent Developments And Challenges

African countries have been left out of the recent benefits accruing from international trade. For example, they accounted for only 3.2 percent of world trade in 2013 compared to 5 percent in the mid-1960s. Regional integration can reverse this weak performance as it holds the promise for countries to gain from the resultant economies of scale and enhanced competitiveness. It will also help to expand the markets for foreign direct investment.

Download Label
March 13, 2018 - 4:00 am
application/pdf
289.41 kB
v.1.7 (stable)
Read →


Author:Idris Ademuyiwa and Eberechukwu Uneze

Publication Date: October 2014

Document Size: 8 pages


Similarly, apart from assuaging Africas greatest economic problem (i.e. the high incidence of poverty), regional integration will go a long way in addressing non-economic problems like recurring conflicts and political instability as well as weak bargaining power in the multilateral front. It is in recognition of these potentials that all countries in the region belong to at least one regional economic community (REC). In fact, the plan is to merge and consolidate the RECs in Africa to form the African Economic Community (AEC) over a period of 34 years in six phases. While these efforts are timely and have begun to yield sparse successes in terms of deepening integration and improving the wellbeing of Africans, some challenges remain.

This article attempts to identify some of the achievements that have been made in regional integration in Africa as well as areas where challenges remain. It also attempts to examine the roles that the BRICS (Brazil, Russia, India, China and South Africa) can play in the integration process.




Related

 

Internally Generated Revenue

Internally Generated Revenue: Total internally generated revenue particularly declined across the 36 states in Nigeria, in 2015. This is attributable to the weak macroeconomic and financial conditions

Fuel Subsidy Reform, Social Safety Nets (SSNs) And Pro-poor Growth

The paper examines the importance of fuel subsidy reforms and how the Nigerian government can achieve a successful reform. It also examines the link between safety nets and growth to help facilitate reform and inclusive growth.

FDI, FPI And Other Investments 2

FDI, FPI and other Investments: The unusual fall in overall capital importation, especially in equity investment, in the late 2015 and early 2016 is attributable to the tougher macroeconomic and finan

A Review Of Nigerias 2016 Budget

This study reviews and assesses the 2016 budget of the Federal Republic of Nigeria in line with IMFsbudget assessment indicators, namely: comprehensiveness, transparency, and realism. The assessment is based on clear understanding of the present administrations objectives, which are: to achieve socio-economic and infrastructural development, to diversify the Nigerian economy, and to achieve improved security of lives and properties.