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Table 1 Presentation of regions with corresponding balanced panels

From: The comparative African regional economics of globalization in financial allocation efficiency: the pre-crisis era revisited

RegionsDefinitions (Number of member states)Constituent countries(Founding dates)Panel/ Dummy
ECOWAS (CDEAO)Economic Community of West African States. (15)Benin, Burkina Faso, Cape Verde(1976), Côte d’Ivoire, Gambia, Ghana, Guinea, Guinea-Bissau, Liberia, Mali, Niger, Nigeria, Senegal, Sierra Leone, Togo, Mauritania(2000). (5/1975)N/A
UEMOAWest African Economic and Monetary Union(8)Benin, Burkina Faso, Côte d’Ivoire, Guinea-Bissau (5/1997) a, Mali, Niger, Senegal, and Togo. (1/1994)(80–08)/(94–08)
ECCAS (UDEAC)bEconomic Community of Central African States(11)Angola(1999)a, Burundi, Cameroon, Central African Republic, Chad, D.R. Congo, Equatorial Guinea, Gabon, Congo, Rwanda, Sao Tomé and Principe. (1985)(90–08)/(99–08)
CEMACEconomic and Monetary Community of Central Africa(6)Cameroon, Central African Republic, Chad, Congo, Equatorial Guinea, and Gabon. (1999)(90–08)/(99–08)
Franc ZONECEMAC plus UEMOA (14)Cameroon, Central African Republic, Chad, Congo, Equatorial Guinea, Gabon, Benin, Burkina Faso, Côte d’Ivoire, Guinea-Bissau, Mali, Niger, Senegal, and Togo(9/1939)N/A
SADCSouth African Development Community (15)Angola, Botswana, D.R Congo(1997)a, Lesotho, Malawi, Mauritius(1995)a, Mozambique, Namibia (1990)a, Swaziland, Tanzania, Zambia, Zimbabwe, South Africa(1990)a, Seychelles(2004–2007a) and Madagascar(2005)a (1980)N/A
SACUSouth Africa Customs Union(4)South Africa, Botswana, Lesotho and Swaziland. (1970)N/A
EACEast African Community (5)Burundi (2007), Kenya, Rwanda (2007), Tanzania and Uganda. (2001)(90–08)/(02–08)
COMESACommon Market for Eastern and Southern Africa (19)Burundi, Comoros, D.R Congo, Djibouti, Egypt(1999)a, Eritrea, Ethiopia, Kenya, Libya(2006)a, Madagascar, Malawi, Mauritius, Rwanda, Seychelles(2001)a, Sudan, Swaziland, Uganda, Zambia, Zimbabwe.(1994)(80–08)/(95–08)
IGADIntergovernmental Authority on Development (7)Djibouti, Ethiopia, Eritrea (1993)a, Kenya, Somalia, Sudan, Uganda. (1986)N/A
UMAArab Maghreb Union (5)Algeria, Morocco, Tunisia, Libya, Mauritania (1989)N/A
  1. Countries with dates in brackets are non-founding members. Countries in italics have withdrawn their membership. a: countries not considered for panel because they entered the region very late or withdrew over time. N/A; denotes the region cannot be included in the study because creation date renders data incompatible with application of the adopted estimated technique.b Founded in 1985 but became effective only by 1999. Policy dummies are based on the year the regional body became effective. This is why the policy dummy for ECCAS is from 1999 though it was founded in 1985