Regional Integration and Policy Challenges in Africa

by Elhiraika, Adam B.; Mukungu, Allan; Nyoike, Wanjiku

• ISBN13: 9781137462077
• ISBN10: 1137462078
• Format: Hardcover
• Copyright: 2014-12-22
• Publisher: Palgrave Macmillan

Summary

Since the turn of the 21st century, many governments in Africa have focused their attention on regional integration and policy. The emphasis on these two areas has been instigated by the greater monetary benefits associated with regional integration.
The role of integration as a catalyst for economic growth, development and insulation from global shocks has made the concept of regional integration even more attractive to states. This book contains compelling arguments and empirical observations that detail some of the key opportunities that governments in Africa are pursuing in their quest to achieve regional integration. It also offers insights into the development policies that governments on the continent are implementing to achieve regional integration.
This diverse volume provides a variety of contributions on regional integration and policy in Africa, which make it indispensable reading for scholars, researchers, students, policy-makers and professionals.

Author Biography

Adam Elhiraika is the Director of the Macroeconomic Policy Division of the United Nations Economic Commission for Africa. He supervises the Commission's key annual flagship publication (the Economic Report on Africa). His areas of expertise include development macroeconomics and finance, economic governance, and structural transformation through industrialization.

Allan Mukungu is a Senior Economic Affairs Officer at the Special Envoy for the UN Secretary General for the Great Lakes Region. He previously worked for the United Nations Economic Commission for Africa as an Economic Affairs Officer and for the United Nations integrated Mission in Timor-Leste as an Economic Advisor. Dr Mukungu has lectured at University of Westminster, UK, and London South Bank University, UK, in various capacities including: Macroeconomics, Microeconomics, International Economics and other fields.

Wanjiku Nyoike is a Research Fellow at the Macroeconomic Policy Division of the United Nations Economic Commission for Africa. She holds a B.A. in International Relations from the United States International University, and a Masters in Public Policy from the University of Oxford, UK.

Table of Contents

Overview Chapter; Adam B. Elhiraika, Allan C. K. Mukungu and Wanjiku Nyoike
PART I: CONVERGENCE AND MONETARY UNIONS
1. Can West African Monetary Zone Area Inflation Converge without Ex-Ante Monetary Policy Coordination?; Emmanuel Dele Balogun
2. Economic Integration in WAEMU: Nominal Convergence and Growth Dynamics between Member States; William Gbohoui
3. Monetary Policy and Economic Growth in the CEMAC Zone: A Panel Data Approach; Fouda Ekobena Simon Yannick
PART II: INSTITUTIONAL INTEGRATION AND POLICY COORDINATION
4. The Challenge of Regional Integration: A Case Study of the East Africa Community; Patricia Mukiri Mwithiga
5. Law and Development in Africa: Paving the Way for Regional Integration through Harmonization of Laws; Regis Y. Simo
6. External Debt and Quality of Institutions, Impact on Economic Growth: Case of WAEMU; jérôme Ouedraogo
PART III: FINANCIAL INTEGRATION AND REGULATION
7. Financial Integration and Economic Growth: A Case of Portfolio Equity Flows to Sub-Saharan Africa; Eric Osei-Assibey and Seth Obeng Adu
8. Financial Frictions and Exchange Rate Regimes in the Prospective Monetary Union of the ECOWAS Countries ; Lacina Balma
9. Financial Deepening Dynamics and Implication for Financial Policy Coordination in a Monetary Union: the Case of WAEMU; Christian Nguena and Temilade Abimbola
10. Quantifying Illicit Financial Flows from Africa through Trade Mis-Pricing and Assessing their Incidence on African Economies; Simon Mevel, Siope V. 'Ofa and Stephen Karingi
PART IV: FISCAL POLICY AND REGIONAL INTEGRATION
11. Assessment and Challenges of Harmonized Budget Programming Reforms in Africa: Case of the Medium-Term Expenditure Framework (MTEF) - Senegal's Experience; Ligan Massamba Sene and El Hadji Fall
12. Monitoring Fiscal Sustainability in Africa: Symtoms and Sources; Moses Obinyeluaku
13. Fiscal Policy Rules in WAEMU: An Empirical Assessment of the Criterion Limiting Public Deficits; Mohamed Coulibaly
Concluding Chapter; Adam B. Elhiraika, Allan C. K. Mukungu and Wanjiku Nyoike