SUPRANATIONAL INTEGRATION IN THE PERIPHERY OF CAPITALISM

THE EXPERIENCE OF THE WEST AFRICA ECONOMIC AND MONETARY UNION (WAEMU)

Abstract

This article focuses on some socioeconomic indicators concerning the eight member countries of the West African Economic and Monetary Union (Waemu). Internal
trade relations are also analyzed, before and after the creation of this bloc. The situation of Guinea-Bissau, the last country to enter the Union and one of the poorest in the world,
is highlighted. Data are examined by making use of descriptive statistics techniques, in order to derive conclusions about the economic and commercial performance of the bloc as a whole and of each member country. It is observed that after the creation of Waemu,
some socioeconomic indicators improved and trade among members gained in intensity. The comparison of individual economic performances indicates that by most of the analyzed indicators Guinea-Bissau appears deeply fragile, its trajectory since the incorporation being a poor one. For historical and structural reasons, the country remains at a clear disadvantage in relation to the others, giving grounds to inquire about the actual benefits of its participation in this integration process.