Economic integration in Africa

There is a renewed interest in the debate on integration in Africa since the creation of the African Union in 2002. This study investigates the feasibility of a full-fledged economic union in Africa. Towards this goal, we examine the short- and long-term relationships among key macro-variables in ei...

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Veröffentlicht in:	The Quarterly review of economics and finance 2010-08, Vol.50 (3), p.245-253
Hauptverfasser:	Adom, Assandé Désiré, Sharma, Subhash C., Morshed, A.K.M. Mahbub
Format:	Artikel
Sprache:	eng
Schlagworte:	Africa Co-integration Common cycles Common trends Common trends Common cycles Co-integration Monetary union Optimum currency area Africa Consumption Correlation analysis Interdependence International trade Investment Monetary union Optimum currency area Output Studies
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creator	Adom, Assandé Désiré Sharma, Subhash C. Morshed, A.K.M. Mahbub
description	There is a renewed interest in the debate on integration in Africa since the creation of the African Union in 2002. This study investigates the feasibility of a full-fledged economic union in Africa. Towards this goal, we examine the short- and long-term relationships among key macro-variables in eight largest African economies during the period from 1976 to 2005. We observe the existence of common long-term trends in real output, price level, private consumption, government consumption, investment and trade flows among these eight countries. In addition, we observe that there exists common cycles (short-term relationships) in real output, investment and trade flows for these countries. These two critical findings indicate the presence of macroeconomic interdependence among these countries which is a crucial factor for the success of integration in Africa led by these eight countries.
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subjects	Africa Co-integration Common cycles Common trends Common trends Common cycles Co-integration Monetary union Optimum currency area Africa Consumption Correlation analysis Interdependence International trade Investment Monetary union Optimum currency area Output Studies
title	Economic integration in Africa
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