Integrating African Markets: The Way Forward

Regional integration has been a subject of a menu of declarations in Africa for decades, and for good reason. Regional integration bears significant potential for Africa's economic transformation and development through such outcomes as reduced trade costs, economies of scale and enhanced competitiveness. A lot of progress has been achieved in the area of regional integration, including trade, finance and infrastructure. For instance, the share of intra-African trade has increased appreciably over the last few decades, and Africa has begun witnessing the emergence of regional stock exchanges. However, Africa still has a long road to travel. This special issue is an attempt to take stock of the regional integration initiatives and outcome in Africa. Specifically, the issue highlights some of the progress made in regional integration more generally, and regional financial integration in particular, and articulates the research issues that can enhance policy development to further Africa's regional integration agenda.