Economic Integration in Africa – Overview, Progress and Challenges

Eduard Marinov

MPRA Paper from University Library of Munich, Germany

Abstract: State and government leaders of the African Union adopt and implement efforts for regional integration as a common strategy for the development of the continent. The objective at continental level is the establishment of the African Economic Community as the last of six consecutive stages, including the strengthening of inter-sectorial cooperation and the establishment of regional free trade areas, monetary union, common market, monetary and economic union, covering the entire continent. Currently there are 16 Regional economic communities in Africa and 8 of them are officially recognized as the foundation for the development of the African economic community. Reviewed are their goals, their main achievements and issues. The study analyses the progress made in the integration process as well as the challenges it faces.

Keywords: Economic integration; Regional economic communities; African economy (search for similar items in EconPapers)
JEL-codes: F15 F54 F55 N77 (search for similar items in EconPapers)
Date: 2014
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Published in Journal of Global Economy 1/2014, ISSN 2343 – 9521 (2014): pp. 42-55

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Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:60317

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