PROBLEMS OR DISADVANTAGES OF ECONOMIC INTEGRATION
- Fear and suspicion of domination: Uneven development among African Nations creates fear a suspicions of domination.
- are differences in economic and political ideology which delay decision making process.
(3) Divided loyalty to former colonial masters: There is divided loyalty to former colonial masters and the union and this tends to hamper effective integration.
(4) Fiscal and monetary differences: There are fiscal and monetary differences among the nations in West Africa.
(5) Inadequate Infrastructural Facilities: Inadequate infrastructural facilities such as roads and telecommunication is one of the major problems.
(6) Absence of Large and Developed Markets: Absence of large and developed markets among member- nations is another problem.
(7) Political instability: Political instability in the region has slowed down the pace of Economic Integration.
(8) Reluctance to surrender economic independence: Member states feel reluctant to surrender their economic independence.
(9) Inadequate Capital: There is inadequacy of capital within the region.
(10) Language Barrier: Language barrier within the region also affects economic integration.
- loans for businesses
- how to establish enterprises
- what is a firm
- price equilibrium
- scale of preference
- concept of economics
- economic tools for nation building
- factors affecting the expansion of industries