UEMOA, CEMAC: quelle performance en matière de commerce ?

Celine Carrere

Revue d’économie du développement, 2013, vol. 21, issue 1, 33-60

Abstract: In this paper we aim to identify the trade performance of both the West African Economic and Monetary Union (UEMOA) and the Central African Economic and Monetary Community (CEMAC) over the period 1995-2010. First, based on a decomposition of an export diversification index we find evidence of two trends: (i) in both areas a clear diversification appears at the extensive margin, i.e. exports of new products, (ii) diversification of intra-areas exports are significantly higher than diversification of exports of members countries with the rest of the World. Second, we look at the trade flows of industrial products in a panel gravity equation. Three main patterns emerge: (i) While both UEMOA and CEMAC have on average generated some trade diversion only UEMOA presents significant additional intra-regional trade, i.e. trade creation; (ii) the stability of exchange rate due to the common currency has reinforced the intra-regional trade while dampening the negative trade diversion; (iii) gains from regional integration are unevenly distributed amongst member countries. Countries that were more concentrated in their exports when the regional agreements have been implemented have faced a large trade diversion while countries with a relative initial diversification in their export bundles have benefited from an increase in their exports towards other members with no evidence of trade diversion.

Keywords: regional integration; monetary union in Sub-Saharan Africa; export diversification; gravity equation (search for similar items in EconPapers)
Date: 2013
References: Add references at CitEc
Citations: View citations in EconPapers (2)

Downloads: (external link)
http://www.cairn.info/load_pdf.php?ID_ARTICLE=EDD_271_0033 (application/pdf)
http://www.cairn.info/revue-d-economie-du-developpement-2013-1-page-33.htm (text/html)
free

Related works:
Working Paper: UEMOA, CEMAC: quelle performance en matière de commerce ? (2013)
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:cai:edddbu:edd_271_0033

Access Statistics for this article

More articles in Revue d’économie du développement from De Boeck Université Contact information at EDIRC.
Bibliographic data for series maintained by Jean-Baptiste de Vathaire ().