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

Financial Innovation

Table 2 Selected regions and countries

Regions	Selected countries	Panels	Policy Dummies
UEMOA	Benin, Ivory Coast, Mali, Niger and Senegal	1980–08	1994–08
COMESA	Burundi, Kenya, Madagascar, Mauritius, Malawi, Rwanda, Sudan, Swaziland, Uganda, Zambia	1980–08	1995–08
CEMAC	Cameron, Gabon, Congo Republic	1990–08	1999–08
ECCAS	Burundi, Cameroon, Congo Republic, Gabon, Rwanda	1990–08	1999–08
EAC	Kenya, Tanzania, Uganda	1990–08	2002–08

UEMOA: West African Economic and Monetary Union. CEMAC: Central African Economic and Monetary Community. COMESA: Common Markets for Eastern and Southern Africa. EAC: East African Community. We dropped ECCAS because of incompatibility of robustness test. The Panel column represents the full sample whereas the policy dummy column denotes the year a common regional treaty was adopted for the sampled countries