Fiscal policy harmonization in the context of African regional integration

Abstract

The paper focuses on Understanding the macroeconomic context for regional integration is important. This is because, as argued by O'Connell (1997), trade related policies aimed at facilitating regional integration efforts could be undercut not only by import substitution strategies but also by the subordination of trade policy to fiscal and external balance (macroeconomic) considerations (see O'Connell 1997: 90).