Measuring Trade Regionalisation in Africa: The Case of ECOWAS
Regional trade and monetary integration mark the core elements of any regional integration processes worldwide. However, the challenges are quite different: While the Member states of the European Union (EU) are economically and monetarily united, they are dealing with the imbalances and potential spill-overs effects resulting from the Euro zone crises. The Economic Community of West Africa States (ECOWAS), on the other hand, struggles with low levels of intra-regional trade, external dependencies and the goal of establishing a region-wide common currency. Inspired by the experience of each other, the WAI-ZEI anthology combines the reflections of well-known researchers from both regions on three of the most important questions in this regard: How can regional integration schemes contribute to enhance regional trade and integration into the global economy? What are the effects of monetary integration and how can synergies be created? To what extent can experiences of other regions be helpful in this process?