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L'Integration De L'Uemoa Est-Elle Pro-Croissance ?

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  • Blaise Gnimassoun

Abstract

Economists are divided on the effect of exchange rate regimes on economic growth. In this article we study the particular case of the West African Economic and Monetary Union (WAEMU), which is one of the oldest monetary unions in the world resulting from French colonization. The objective is to study the impact of this integration on the economic growth of the region. To this end, we propose an empirical model of economic growth specific to the zone. We also address the problem of simultaneity bias between integration and growth relying on a gravity-based IV strategy. Our econometric results show that although West African regional integration is one of the most important in Africa, it has not led to significant economic growth in the Union. We propose measures to strengthen community transport infrastructures, which are essential to boost integration and its impact on the growth of We propose a massive investment plan in the community transport infrastructure, which is essential to strengthen integration and its impact on the growth of the area.

Suggested Citation

  • Blaise Gnimassoun, 2018. "L'Integration De L'Uemoa Est-Elle Pro-Croissance ?," EconomiX Working Papers 2018-11, University of Paris Nanterre, EconomiX.
    • Handle: RePEc:drm:wpaper:2018-11
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    Keywords

    Regional integration; Monetary Union; Empirical growth model;
    All these keywords.

    JEL classification:

    • F15 - International Economics - - Trade - - - Economic Integration
    • O47 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Empirical Studies of Economic Growth; Aggregate Productivity; Cross-Country Output Convergence
    • E32 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Business Fluctuations; Cycles

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