Regional Integration in the West African Economic and Monetary Union (WAEMU): Complementarity or Competition?

Alinsato, Alastaire Sèna

doi:10.3390/economies10010022

Cited by 3 publications

(3 citation statements)

References 33 publications

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“…Chuku (2012) within a four-shock model, also found the ECOWAS region not to be ready for the monetary integration process. The outcome by Chukwu was also corroborated by Alinsato (2022) who in addition found an increase in income disparities among the countries within the union using the sigma-convergence analysis. However, Ogunkola (2005) believed that the Structural Adjustment Program brought about a reasonable level of convergence across West Africa and that the region was close to convergence, with a caveat of wider differences in real exchange rate shocks facing the CFA and non-CFA countries.…”

Section: Empirical Issues On Monetary Integrationmentioning

confidence: 59%

Monetary Integration Across West Africa: Is the Region Ripe for a Monetary Union?

Oyadeyi

2024

Sage Open

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This study investigates the possibility of forming a monetary union across West Africa. This was achieved by employing the structural VAR framework. Data on real GDP, inflation, and exchange rate were used to represent supply, monetary, and demand shocks from the period 1986 to 2020. The impulse response and variance decomposition results showed that shocks affecting the West African region are idiosyncratic, while the residuals of the structural VAR were used to compute the correlation coefficient. The correlation coefficient revealed that the demand and monetary shocks were symmetric across WAEMU countries and asymmetric for the rest of the region. The study suggests that the West African region is not ripe for a monetary union. However, the study opined that the WAEMU countries are the closest to forming a West African monetary union and a piecemeal approach may be adopted such that the WAEMU countries are the first to form the union, while the rest may join when they meet the convergence criteria. In essence, West African countries’ central banks need to focus on harmonizing their monetary policies and remove all barriers to factor mobility for the synchronization of shocks and for all countries to meet the convergence criteria.

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Section: Empirical Issues On Monetary Integrationmentioning

confidence: 59%

Monetary Integration Across West Africa: Is the Region Ripe for a Monetary Union?

Oyadeyi

2024

Sage Open

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“…Then how long will it take to realize all that defined regional integration (Beckfield, 2019). The understanding of regional integration as a process and its spatial ramifications is still blurred (Alinsato, 2022). Different regional integration scholars have expressed various views.…”

Section: Literature Reviewmentioning

confidence: 99%

Regional Integration from within: Transition to the Greater Nairobi Metropolitan Region in Kenya from the Perspective of Metal Valence Bond Theory

Tubei,

Gaas

2023

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Valence bond theory (VBT) was developed by Linus Paulin. It assumes that the metal-ligand bonds are formed by donating an electron pair by the ligand to the metal and thus form a coordinate bond between the metal and ligand. Economic, social, and political sharing creates a strong bond between Nairobi city and the three county towns of Kiambu, Machakos, and Kajiado. In the modern dispensation, agglomeration of neighboring urban centers and their adjacent rural areas are transforming into regional economic development areas guided by political outline. There is a likelihood that cities adjacent to each other can grow and expand until they are joined, forming a formidable economic development bloc. Nairobi, Kiambu, Mlolongo Athi River, Machakos, Ngong, Kitengela, and Kajiado have a trend that, in 25 years, they will have merged into a conglomeration of a mega urban area. This paper empirically examines the four-county towns: Nairobi, Machakos, Kiambu, and Kajiado, using a geospatial perspective to assess the probability that Nairobi Metropolitan Area can change into the Greater Nairobi Metropolitan Region through integration. Our case study is premised on the coupling distance between the urban centers is made to be understood because of the metal valence bond theory. That is how sharing resources of neighboring urban centers with their counties can be made into a regional economic development hub. We found that: There are Challenges facing the Greater Nairobi Metropolitan Region integration process. Industrial satellites; EPZ in Athi River Machakos County and Thika in Kiambu County are spillovers from Nairobi city and vital to the peripheral counties' industrialization. The current infrastructure (Roads, railways, water and sewer systems, electricity supply, and airports

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“…The spatial influence of regional integration is one of the current focuses of global researchers. However, more attention is often paid to the interaction between regional integration and specific issues, such as welfare, income, politics, culture, and ecology [20,21,[27][28][29][30]. Nevertheless, the regional integration process itself and its spatial consequences still remain poorly understood [31].…”

Section: Literature Reviewmentioning

confidence: 99%

Understanding the Regional Integration Process from the Perspective of Agglomeration and Urban Networks: Case Study in Central China

Liang

Zhang

Zang

et al. 2022

IJERPH

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Previously, urban planning approaches have tended to convert local agglomeration into network connections to advance urban development. However, is this successful experience learned from developed counties appropriate for developing countries? Scholars hold different opinions on this debate. To answer this question, we need to examine the effects of urban agglomeration in developing countries with a quantitative method. In this paper, we introduced a method of examining network connections from a geospatial perspective to explore the practice and spatial consequences of regional integration using a new concept of “coupling distance” based on metal valence bond theory. Then we applied this method to conduct an empirical case study of the urban agglomeration in the middle reaches of the Yangtze River region in China. We found that: (1) the real integration scale of the investigated urban areas was less than one-fourth the planned area, as most of interactions between cities are local, although we see the positive facilitation of urban networks on cross-provincial integration. (2) In terms of spatial consequences, the study area demonstrated phenomena of “agglomeration shadows”, “enclaves” and “inverse integration”. Specifically, these “agglomeration shadows” were all in their province’s geometric centers, which seemed to have suffered a “central position curse”. (3) Both “enclaves” and “inverse integration” call for a readjustment of government-led regional integration planning. Differently, the former has a positive attitude towards integration while the latter holds the opposite attitude. This study hopes to provide operationalizing methods and guidelines for planners and decision makers in the field of regional integration planning.

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Regional Integration in the West African Economic and Monetary Union (WAEMU): Complementarity or Competition?

Cited by 3 publications

References 33 publications

Monetary Integration Across West Africa: Is the Region Ripe for a Monetary Union?

Monetary Integration Across West Africa: Is the Region Ripe for a Monetary Union?

Regional Integration from within: Transition to the Greater Nairobi Metropolitan Region in Kenya from the Perspective of Metal Valence Bond Theory

Understanding the Regional Integration Process from the Perspective of Agglomeration and Urban Networks: Case Study in Central China

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