Overview of the WAEMU, the AndeanC and the CARICOM
The institutional design of regional integration varies from bilateral cooperation agreements to custom unions. The degree of centralization or decentralization usually correlates to the depth of integration. Generally, South-South agreements tend to aim at deeper integration than North-South agreements. This finding is supported by the design of the WAEMU, the AndeanC and the CARICOM. They all constitute economic unions that aim at the creation of a common market.