Regional Integration and Economic Development: A Study of ECOWAS (2015-2020)
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"GLOBAL RESEARCH NETWORK" LLC
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The paper examined regional integration and economic development: A study of ECOWAS from 2015-2019. ECOWAS is an acronym that stands for Economic Community of West Africa States, it was established by the Treaty of Lagos on May 28, 1975. This fifteen-member State organization has always benefitted from the magnanimous posture of Nigeria. The ideas behind Nigeria’s championing of ECOWAS demonstrate her concern for sub-regional unity, economic, technical and political cooperation. Ultimately, the aim was to reduce incessant and latent political and boundary problems, guarantee the member States a more respectable place in the international society, encourage coordinated development and reduce their dependence on foreign powers. However, is obvious that West African countries are to a large extent very poor and underdeveloped. ECOWAS that was established to boost some economic mutually agreed needs seems not able to pull them out there present underdevelopment status due to the way it is being poorly run. It is pathetic to note that since the act of regional integration in the form of ECOWAS since 1975, the volume of trade amongst the West African states has still not improved. It is against this backdrop that this study examined the impact of regional integration on the economic development of Africa countries using ECOWAS as a case study. The paper reviewed relevant literature on regional integration and economic development. The paper adopted realism as its theoretical framework. The paper found out that ECOWAS as a regional organization has tried to an extent in formulating and implementing policies to enhance economic development in the West Africa region. However, the ECOWAS has some challenges which included problems to intensifying trade and monetary, weakness and even the lack of Political Will among member states in implementing the organizational policies, the persistence of colonial ties, diverse and distinct administrative systems, poor infrastructural development and the existence of different currencies (some of which are not easily convertible), and bad governance and political instability have plagued many of the ECOWAS countries into civil crisis. Thus, stampeding the countries in implementing the policies and programmes of the ECOWAS. Based on the above findings the recommended that ECOWAS member states should be encouraged to ensure the proper implementation of economic development goals of this organization. This should be the first step and the purpose of ECOWAS mission that is not only by making lofty policies without implementation but following up on every policy and making laws of international standard that will compel every member states to implement every policy to the later.
Keywords
Economic, Development, Integration, Region