Regional Economic Integration and Economic Growth in the COMESA Region, 1980–2010 (Henry KaramuriroTumwebaze and Alex Thomas Ijjo)

Abstract

A key goal of the COMESA Treaty (1993) was to stimulate sustainable economic growth in the region through increased trade between member
states. On the basis of a 1980–2010 annual panel dataset, we examine the contribution of COMESA integration to economic growth in the region
using instrumental variables GMM regression in the framework of a cross-country growth model. Contrary to a priori expectation, we find no significant empirical support for a positive growth impact, as yet, on the region from the integration. Growth in capital stock, population, world
GDP and the level of openness to international trade turned out to be the most robust drivers of growth in the COMESA region over the period.

IPRAA WORKING PAPER 84

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