Assessing Regional Integration in Africa II : Rationalizing Regional Economic Communities

Abstract

This report focuses on the rationalization of the regional economic communities—one of the main challenges confronting Africa in its quest for full integration. In addition to documenting the major achievements of the regional economic communities, the report shows how overlapping regional economic communities and multiple memberships by African countries are slowing integration. The focus on rationalization is premised on the idea that efficiency and effectiveness are supreme, because the overlapping regional economic communities and multiple memberships are associated with large resource costs and seriously binding financial constraints. Rationalization would make it easier for African countries to meet their financial obligations to the regional economic communities. Above all, rationalization would allow the continent to reap the full benefits of integration—particularly those for growth and for trade within and outside Africa.