| This study examines the empirical relationship between regional integration and economic development and sovereignty in the Central African region. The following specific questions are raised and answered against that background: (1) What are the characteristics that have ensured the survival of UDEAC? (2) What are the probable effects of regional integration on the development process in the region of Central Africa? (3) Can the UDEAC be a counterforce to foreign economic domination? (4) How has the presence of Multinational Corporations (MNCs) affected trade, industrial planning and harmonization, and other compensatory measures in the UDEAC market? (5) What reforms should be made to increase the effectiveness of the UDEAC?;The following significant findings were observed: (1) UDEAC has survived because of the political commitment of its member states. (2) Benefits from the integration process have accrued to the owners of foreign capital, rather than to the states of the region. (3) The dominance of (MNCs) Multinational Corporations has retarded the effectiveness of UDEAC. (4) A successful integration project in the region requires the institution of national reforms, including the creation of a financing system within the UDEAC market, and the transformation of the CFA unit of exchange into a nominal UDEAC currency.;This study presents a theoretical framework within which discussion of the integration process in Central Africa is situated. We use a data base which includes aggregate data, i.e. some political, social, economic and financial variables. The dynamic and interrelated nature of political, social and economic variables as they affect the integration process are, therefore, examined in this context. |
