Abstract
This paper analyzes and characterizes the nature of the interactions between countries of the West African Economic and Monetary Union (WAEMU) over the period 1995–2015. The analysis uses sigma-convergence on the one hand and the Dendrinos-Sonis spatial competition model estimated by the SUR method on the other hand. The results show a lack of convergence of living standards and support the idea of income polarization in space; these results also support the idea of a very poorly integrated region with relatively competitive interrelationships. The paper suggests the acceleration of regional integration in the WAEMU region combined with the implementation of inclusive integration policies that promote each member’s comparative advantage.
Highlights
The application of the Dendrinos-Sonis model to West African Economic and Monetary Union (WAEMU) provides an overview of the form of competition and complementarity between the different countries of the union
This first attempt shows a low degree of regional integration, which corresponds to the increase in income disparities observed since the creation of the Union and confirmed by the sigma-convergence analysis
These results reflect the weak interaction between the economies of the Union
Summary
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