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Market Implications of Comesa's Accesion to the Free Trade Area: A Gravitational Investigation

Author

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  • Daniel Gbetnkom

    (Faculty of Economics and Management, University of Yaounde)

Abstract

This paper derives and uses a variant of the gravity model to assess the market implications of the COMESA's accession to the Free Trade Area. The results show that the traditional explanatory variables of the gravity model are the significant determinants of trade flows in the COMESA region, and that belonging to this grouping fosters trade. Hence policy advice should focus on strengthening these factors, which are likely to enhance the possibility of greater intra-regional trade. This can contribute to drawing foreign direct investment to the region, enhancing policy credibility, and bringing greater economic and political stability. This paper also highlights the importance of a combination of unilateral and preferential economic reforms in the preferential trade arrangements in sub-Saharan Africa.

Suggested Citation

  • Daniel Gbetnkom, 2006. "Market Implications of Comesa's Accesion to the Free Trade Area: A Gravitational Investigation," Journal of African Development, African Finance and Economic Association (AFEA), vol. 8(1), pages 133-157.
    • Handle: RePEc:afe:journl:v:8:y:2006:i:1:p:133-157
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