Economic Gains of Regional Agreements: Deeper versus Wider Integration
Table 11.A.5
319
South-South Regional Trade Agreements (continued)
Region/agreement Southern African Development Community (SADC)
Union Economique et Monétaire (UEMOA)
Member countries/economies Angola, Botswana, Democratic Republic of Congo (since 1992), Lesotho, Malawi, Mauritius (since 1995), Mozambique, Namibia (since 1992), Seychelles (1992), South Africa (since 1994), Swaziland, Tanzania, Zambia, Zimbabwe Benin, Burkina Faso, Côte d’Ivoire, Guinea-Bissau (since 1997), Mali, Niger, Senegal, Togo
Source: Authors, based on updated information from Jaumotte 2004. Note: Unless mentioned otherwise, the RTAs were in effect during the entire 1980–2004 period.
Table 11.A.6
Documentation of Data Used in Panel Analysis for Service Reforms
Variable (definition) Growth (per capita GDP growth) Investment/GDP (gross fixed capital formation/GDP) Chg Investment/GDP (change in investment/GDP) Inflation (consumer price inflation) Crisis (dummy for financial crisis/armed conflict) FDI/GDP (sock of FDI/GDP) Finance (average of EBRD reform indexes on banking and nonbanking financial sector) Infrastructure (average of EBRD reform indexes on infrastructure [telecom, rail, road, water, power]) Invclim (average of EBRD reform indexes on privatization and liberalization) Service (average of Invclim and infrastructure)
Source of data World Bank, World Development Indicators database IMF, World Economic Outlook database IMF, World Economic Outlook database IMF, World Economic Outlook database n.a. UNCTAD EBRD Transition Report 2004
EBRD Transition Report 2004
EBRD Transition Report 2004
EBRD Transition Report 2004
Source: Authors. Note: Country sample: Albania, Algeria, Armenia, Azerbaijan, Belarus, Bulgaria, Croatia, Czech Republic, Estonia, Georgia, Hungary, Kazakhstan, Kyrgyz Republic, Latvia, Lithuania, FYR Macedonia, Moldova, Morocco, Poland, Romania, Russian Federation, Slovak Republic, Slovenia, Tajikistan, Tunisia, Ukraine, Uzbekistan. UNCTAD = United Nations Conference on Trade and Development. n.a. = not applicable.
reforms impact are displayed in table 11.A.8. The stock of FDI to GDP in the Maghreb rises by 8.8 percentage points for every unit increase in the infrastructure index, 9.2 percentage points for every unit increase in the financial services sector index, and 8.5 percentage points for every