Abstract
With resolute pursuit of regional economic integration, African countries should expect enormous benefits in the form of enhanced economic diversification within countries and increased intra-regional trade. The positive trade effects would work via the traditional mechanisms of comparative advantage, economies of scale, and gravity. Crucial to these positive effects are enabling economic policy environments within the countries, successes in designing and agreeing on beneficial trade policy reforms by all the countries of a region, well-functioning autonomous regional organizations, and payment settlement arrangements that are in line with modern exchange market systems.
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Johnson, O.E.G. (2016). Regional Economic Integration in Africa and Intra-Regional Trade. In: Economic Diversification and Growth in Africa. Palgrave Macmillan, Cham. https://doi.org/10.1007/978-3-319-30849-4_4
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DOI: https://doi.org/10.1007/978-3-319-30849-4_4
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