Abstract
Abstract. The signing of regional trade agreement between the Economic Community of West African State and Switzerland in 2017 provides a renewed and ambitious blueprint for economic integration and developmental strategies in West Africa. However, one of the remarkable features of the historic event was the relative lack of analysis of the significant issues and problem of regional aspiration and integration before the treaty was drafted. Bearing this in mind, it appears that the theoretical persuasion of economic integration may have attracted this commitment since it provides a better understanding on the economic mechanism through which a regional cooperation could enhance both static and dynamic benefits among partnering countries. For better consideration of the implication of this move, this study identifies the main trends in economic integration theories and also flashlight on how these theories were developed. The motivations that led to the need for innovative approaches to enrich economic theory of economic integration were based on its implication or impact on West African region. Although several researchers have tried to explain the phenomenon of economic integration, we cannot say there is a generally accepted theory, since some of the already suggested theories and criticisms has its consequences on the region. Hence, this study is suggesting domesticated theories that will suite the contextual analysis of African region rather than adopting theories meant for developed and more vibrant economy.
Keywords. Economic integration, Regional, Theoretic, West Africa.
JEL. F20, F15.References
Alejandro, N., & Xinshen, D. (2014). Regional integration of agricultural trade in Southern Africa, infatuation or real need? Journal of Economic Integration. 29(3), 520-562. 10.11130/jei.2014.29.3.520
Donaldson, D. (2015). The gain from market integration. Annual Review of Economic, 7, 619-647. 10.1146/annurev-economics-080213-041015
ECOWAS Commission, (2010). Regional Agricultural Policies, Abuja: ECOWAS.
Heckscher, E. (1935). Mercantilism, London: Allen and Unvoun.
Heckscher, E. (1919). The effect of foreign Trade on the distribution of income, EkonomiskTidskrift, 497-512.
Johnson, G.H. (1965). An economic theory of protectionism, tariff bargaining and formation of custom unions. Journal of Political Economy, 73(3), 256-283. 10.1086/259014
Kabir, M, Salim, R., & Al-Mawali, N. (2017). The gravity model and trade flows: Recent developments in econometric modeling and empirical evidence. Economic Analysis and Policy 56, 60–71. 10.1016/j.eap.2017.08.005
Learner, E. (1993). Factor-supply differences as a source of comparative advantage, America Economic Review, 83(2), 436-439.
MacDougall, C.D. (1951). British and America exports: A study suggested by the theory of comparative cost advantage Part 1: The Economic Journal, 6(244), 697-324. 10.2307/2226976
Mengesha Y. (2009). Trade effects of regional economic integration in Africa: The case of SADC (evidence from gravity modelling using disaggregated data. Trade & Industrial Policy Strategies, Thematic Working Paper, No.1-18.
Olayiwola W., Osabuohien E., OkoduaH., & Ola-David O. (2015). Economic integration, trade facilitation and agricultural export in ECOWAS sub-region. In, M.N. Fayel., A. Verdier-Chouchane (eds.) Regional Integration and Trade in Africa, London: Palgrave Macmillan.
Ozgur, U. &Abdulakadir S. (2018). Determinants of export performance in East Africa. Proceeding of the IIER International Conference. Warsaw. Poland. [Retrieved from].
Panagriya A. (2000). Preferential trade liberialisation: The traditional theory and new development. Journal of Economic Literature, 38(2), 287-331. doi. 10.1257/jel.38.2.287
Panagriya A. (1998) Regionalism debate: An overview, Center for International Economics, Department of Economics, University of Maryland at College Park, Working Paper, No.80.
Potelwa, X., Lubinga, M &Ntshangase T. (2016). Factor influencing the growth of South Africa’s agricultural export to the world market. European Journal of Scientific Research. 12(34), 195-199. doi. 10.19044/esj.2016.v12n34p195
Ricardo, D. (1963). The Principles of Political Economy and Taxation, Homewood: Irwin.
Ricardo, D. (1817). Principles of Political Economy and Taxation, New York: Penguim.
Robertson, E.P., & Marie-Clarie, R. (2014). The gravity of resource and tyranny of distance, The University of Western Australian, Discussion Paper, No.1501.
Rodrick, D. (2000) How far will international economic integration go? Journal of Economics Perspectives, 14(1), 177-186. 10.1257/jep.14.1.177
Samuelson, P. (1962). The gain from international trade once again, Economic Journal, 820-829.
Sayef, B., & Muhammed, M. (2018). The impact of agricultural trade on economic growth in North Africa: Econometric analysis by static gravity model. [Retrieved from].
Salvatore, D. (2010). International Economics, Delhi, India: John Wiley & Son.
Salvatore, D., Dean, J., & Willet, T. (2003). The Dollarization Debate, New York: Oxford University.
Salvatore, D. (1996).Theory and Problem of International Economics, (4th ed.), New York: McGraw-Hill.
Shobande, O.A., & Ibrahim, L.R. (2018). Analysis of the effects of economic integration on agricultural export performance in selected West Africa countries. Presented at the Annual Conference of the Nigeria Economic Society, Abuja.
Stolper, W.F., & Samuelson, P.A. (1941). Protection and Real Wages, 58-77.
Tinbergen, J. (1962).Shaping the World Economy: Suggestions for an International Economic Policy. New York: The Twentieth Century Fund.
Trefler, D. (1993). International factor price differences: Leontief was right, Journal of International Political Economy, 101(1), 961-987. 10.1086/261911
United Nation Economic Commission for Africa, (2015). ECA 2015 Research Report. Addis Ababa, United Nation Economic Commission.
Vaillant, M., & Ons, A. (2003). Winner or losers in a free trade area between United State and Mercosur. Working Paper, No.1403. [Retrieved from].
Viner, J. (1950). The Custom Union Issue, New York: The Carnegie Endowment for International Peace.
The World Bank, (2006). Where is the Wealth of Nation? Washington D.C: The World Bank Publication.
The World Bank, (2000). Trade Blocs, Washington D.C: The World Bank Publication.