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Regional Integration in the West African Economic and Monetary Union (WAEMU): Complementarity or Competition?

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  • Alastaire Sèna Alinsato

    (Laboratory of Public Economics, Faculty of Economics and Management, University of Abomey-Calavi, Abomey-Calavi 02BP 2163, Gbégamey-Cotonou, Benin)

Abstract

This paper analyzes and characterizes the nature of the interactions between countries of the West African Economic and Monetary Union (WAEMU) over the period 1995–2015. The analysis uses sigma-convergence on the one hand and the Dendrinos-Sonis spatial competition model estimated by the SUR method on the other hand. The results show a lack of convergence of living standards and support the idea of income polarization in space; these results also support the idea of a very poorly integrated region with relatively competitive interrelationships. The paper suggests the acceleration of regional integration in the WAEMU region combined with the implementation of inclusive integration policies that promote each member’s comparative advantage.

Suggested Citation

  • Alastaire Sèna Alinsato, 2022. "Regional Integration in the West African Economic and Monetary Union (WAEMU): Complementarity or Competition?," Economies, MDPI, vol. 10(1), pages 1-11, January.
    • Handle: RePEc:gam:jecomi:v:10:y:2022:i:1:p:22-:d:721755
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    References listed on IDEAS

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    1. Yiannis Kamarianakis & Vagelis Kaslis, 2005. "Geographical competition-complementarity relationships between Greek regional economies," ERSA conference papers ersa05p552, European Regional Science Association.
    2. Jaime Bonet, 2003. "Colombian regions: Competitive or complementary?," Revista de Economía del Rosario, Universidad del Rosario, June.
    3. Jean-Claude Berthélemy & Aristomène Varoudakis & Sébastien Dessus, 1997. "Capital humain et croissance : le rôle du régime commercial," Revue Économique, Programme National Persée, vol. 48(3), pages 419-428.
    4. Andrew B. Bernard & Steven N. Durlauf, 1991. "Convergence of International Output Movements," NBER Working Papers 3717, National Bureau of Economic Research, Inc.
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    Cited by:

    1. Liang Wang & Fangfang Zhang & Yuzhu Zang & Jian Duan, 2022. "Understanding the Regional Integration Process from the Perspective of Agglomeration and Urban Networks: Case Study in Central China," IJERPH, MDPI, vol. 19(19), pages 1-15, October.
    2. Olajide Oyadeyi, 2024. "Monetary Integration Across West Africa: Is the Region Ripe for a Monetary Union?," SAGE Open, , vol. 14(2), pages 21582440241, April.

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