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201--214
Tytuł artykułu

Does Intermediate Tariff Bode Well for Trade Integration in ECOWAS?

Warianty tytułu
Języki publikacji
EN
Abstrakty
EN
This paper analyses the impact of intermediate tariffs on intraregional intermediate exports within the Economic Community of West African States (ECOWAS) from 2000 to 2015. This is in order to investigate whether or not the levels of intermediate tariffs bode well for trade integration in ECOWAS. Using the Heckman Two-step technique, the empirical estimates reveal that the similarities in GDP and the presence of the West African Economic and Monetary Union (WAEMU), among others, are highly significant determinants of intraregional intermediate exports in ECOWAS. Contrarily, the quality of institution and the levels of intermediate tariffs are not important contributors to intraregional exports of intermediates. As the continent prepares towards the implementation of the African Continental Free Trade Area and considers regional value chains quintessential to development, policy makers should be informed of the unsupportive levels of intermediate tariffs in ECOWAS- a regional economic community that accounts for about thirty percent of the African population. Trade policies targeted at lowering intermediate tariffs within ECOWAS are called for. (original abstract)
Czasopismo
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Strony
201--214
Opis fizyczny
Twórcy
  • Landmark University, Nigeria
  • ECOWAS Commission, Nigeria
autor
  • Covenant University, Nigeria
  • Kwara State University, Nigeria
Bibliografia
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  • Afolabi, L. O., Nor Aznin, B., & Mukhriz, I.A. (2015). Regionalism and ECOWAS trade performance: A gravity model approach. Boğaziçi Journal Review of Social, Economic and Administrative Studies, 29 (2), 59-71.
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  • Haq, Z., Meilke, K., & Cranfield, J. (2010). Does the gravity model suffer from selection bias?. Canadian Agricultural Trade Policy Research Network Working Paper no 90884.
  • Heckman, J. J. (1979). Sample selection bias as a specification error. Econometrica 47, 153-61.
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  • Lopez-Gonzalez, J. (2012). The impact of free trade agreements on vertical specialisation. Working Paper No. 2012/36, Swiss National Centre of Competence in Research, Bern.
  • Obasaju, B. O., Olayiwola, W.K., & Okodua, H. (2016). Regional economic integration in West Africa and cocoa beans value chain in Nigeria. Conference Proceedings of the 27th International Business Information Management Association (IBIMA) Conference, Milan, Italy, 4th - 5th of May 2016.
  • Olofin, S., Salisu, A., Ademuyiwa, I., & Owuru, J. (2013). Determinants of a successful regional trade agreement in West Africa. www.crepol.org/images/my_pdf/july-paper-02.pdf
  • Santos Silva, J. M. & Tenreyro, S. (2006). The Log of Gravity. Review of Economics and Statistics, 88, 641-658.
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Typ dokumentu
Bibliografia
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Identyfikator YADDA
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