Could regional integration be a first step toward joining the
global market? In a context where liberalizing trade has not
produced the expected gains in developing countries and growth in
global trade has not led to the expected economic growth, an
alternative solution has emerged. This new paradigm suggests that
trade liberalization should be accompanied by public investment.
However, by its very nature, trade liberalization leads to a
reduction in revenues from duties and taxes, which means that the
available resources for public investments will also be reduced.
There are now solid arguments for encouraging the less-developed
countries to first emphasize regional integration before trying to
access the global market.
This book explores the issues linked to regional integration in
West Africa and presents empirical data about the experiences in =
West African Economic and Monetary Union (WAEMU) countries to
converge their economies. It also examines how these efforts, which
make a major contribution to regional integration, influence
poverty reduction in the economic and monetary community. It will
be of interest to researchers working in this area.
Elias T. Ayuk is Director of the United Nations University
Institute for Natural Resources in Africa in Accra, Ghana, and was
formerly a senior program specialist at the International
Development Research Centre. Samuel T. Kabore is a
researcher/lecturer at the Faculty of Economics and Management at
the University of Ouagadougou II, Burkina Faso.
Canada s International Development Research Centre (IDRC)
supports research in developing countries to promote growth and
development. IDRC also encourages sharing this knowledge with
policymakers, other researchers, and communities around the world.
The result is innovative, lasting local solutions that aim to bring
choice and change to those who need it most.
Elias T. Ayuk is Director of the United Nations University
Institute for Natural Resources in Africa in Accra, Ghana, and was
formerly a senior program specialist at the International
Development Research Centre. Samuel T. Kabore is a
researcher/lecturer at the Faculty of Economics and Management at
the University of Ouagadougou II, Burkina Faso.
Canada s International Development Research Centre (IDRC)
supports research in developing countries to promote growth and
development. IDRC also encourages sharing this knowledge with
policymakers, other researchers, and communities around the world.
The result is innovative, lasting local solutions that aim to bring
choice and change to those who need it most.
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