INTERNATIONAL AND REGIONAL CAPITAL MOBILITY IN LATIN AMERICAN COUNTRIES

This study examines the role of global, regional and domestic saving for domestic investment financing in the panel of Latin American and Caribbean countries along with its three regional integration blocks, namely SICA, Andean Community and MERCOSUR. Panel regression and rolling-window estimation results reveal that global saving is the main source of domestic investment financing in the region of Latin America and the Caribbean, SICA, Andean Community and MERCOSUR. The role of domestic and regional savings is rather limited, implying that there are weak regional and domestic channels that can funnel domestic and regional savings into investment in the analysed samples. The importance of regional agreement saving is insignificant and decreases over the analysed period except for the Andean Community. The results indicate low financial integration of the member-countries within the three regional trade agreements.

Regional Integration in the West African Economic and Monetary Union (WAEMU): Complementarity or Competition?

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.

Financing the Sustainable Development Goals in Sub-Saharan African Countries

The chapter seeks to provide insights on the alternatives for financing sustainable development in the Sub- Saharan Africa (SSA). It has been highlighted in the chapter that the region faces the danger of not attaining the SDGs due to poor political systems, climate change, high population growth and restricted economic growth and development. This comes in the midst of declining and unpredictable Official Development Assistance (ODA) plus other domestic and foreign financing instruments. Despite the constraints, the chapter has explored the potential for the region to attain and maintain the Sustainable Development Goals (SDGs) way beyond 2030. Sub-Saharan Africa has a lot of natural resources and a favorable demographic structure. Furthermore, the region has shown some signs of industrial development of late and increasing regional integration which are key to economic transformation. Finally, the chapter has highlighted some policy recommendations in order for the region to realise its potential and attain the SDGs.

African Continental Free Trade Area (AfCFTA) Agreement and the Mega-Regional Trade Agreements (MRTAs): what are the underlying challenges and prospects for Africa-South-South trade?

This study examines the possible challenges and prospects of the recent signing of the African Continental Free Trade Area (AfCFTA) Agreement on South-South trade. The recent ratification of the agreement by the African Union (AU) Heads of Government and the establishment of the mega-regional trade agreements (MRTAs) by the major global trading economies are the biggest since the establishment of the WTO. One of these regional and continental agreements' principal objectives is to further strengthen trade terms and balance of trade statistics between member nations. Whereas almost all the regional and continental blocs have to a large extent, achieved the purpose of their trade agreements, Africa stands out as the only region whose intra-trade value still constitutes less than 15% of global trade share. Many reasons have been adduced to be responsible for the weak trade performance, one of which is weak regional integration. This study, therefore, concludes that for Africa to achieve significant improvement in global trade, the region needs to encourage regional trade, which will act as a catalyst for transforming the domestic economies and lay a robust foundation for healthy regional competition and integration

The Grand Strategy of China Towards Central Asia: An Assessment of Chinese New Regionalism Strategy and its Geopolitical Implications for US in the Post-9/11 Era

The main objective of this study is to investigate ‘why does China adopted the strategy of new regionalism, and is it looking for an era of US decline in the region in the post 9/11 era’? Both US and China have made noticeable diplomatic, foreign policy, and cultural advances in their appeal and influence in the region since the 9/11 era. In addition, the Chinese regional integration approach (SCO) with the Central Asian states and Russia and its implication for US geopolitical interest are closely analyzed in this paper. It is markedly considered that Beijing has adopted a couple of measures to undermine the US attention in the region, either in the form of a new regionalism policy (SCO), soft power, to the advanced multipolar system, to promote mutual and multifaceted dealings with its bordering countries. The results of this descriptive study indicate that the dynamic role of China has ultimately weakened the emerging role of the US in the region where Washington has already triggered and enhanced its bilateral relations with the Central Asian states. Moreover, this inclusive study examined China’s regionalism approach from distinguishing perspectives such as Economic assistance, oil diplomacy, and economic and political strategies in its rapid ascendance in world politics.