The book “Economic Integration of COMESA” is being released on Thursday (25th July 2024) in Lincoln University College, Malaysia by Prof. Sandeep Poddar, the Deputy VC of the University, Prof. Abhijit Ghosh-the dean of Business and Accountancy and the President Prof. Dato Ambassador on the eve of International Conference on Sustainable Developments in Material Science, Technology and Engineering. The book is jointly written by Dr. Debesh Bhowmik who is associated with this University and by Fitzgerald Witika, the Economist in the Research Expert Solution, Lusaka, Zambia.
The book represents the situation of economic integration of COMESA which is the largest bloc in Africa as of now. The first three chapters, namely, Ancient trade and currency history of Zambia, Zambia’s trade with COMESA and other African blocs, and History of COMESA, were described by Witika efficiently. The next three chapters, namely, COMESA and macroeconomic indicators, Intra and interbloc trade of COMESA, Convergence analysis and asymmetric shocks were explained by Dr. Debesh Bhowmik. Both introduction and conclusion were written by him. The book contains a good bibliography and a statistical appendix which can provide a huge data on COMESA by which a researcher can fit several econometric models.
Prof. Bhowmik has given a detailed economic information about COMESA and its territory since the inception of the bloc. Witika has studies elaborately on the role of Zambia on international trade including with COMESA members and other African blocs giving statistical evidences. He has shown his credibility on the currency structure in the Zambian and COMESA trade. Witika has exclusively written on the Intra regional trade in exports and imports of COMESA especially with regional blocs of Africa on academic interests. Even, he analysed explicitly on the history of COMESA. The present and future scope of COMESA in economic integration process in the space of world trade was written clearly in this chapter by Witika.
Prof. Bhowmik, in the chapter of COMESA and macroeconomic indicator has given importance on FDI, shares of intra-export and intra-imports, current account balance, growth-inflation trade off, CO2 emissions of COMESA and examined through trend lines and regression analysis taking long period data. In the chapter, Intra and inter bloc trade of COMESA, he examined the nature and trends of intra export and import shares of COMESA and found the relationships with GDP, export concentration index and diversification index ,import concentration and diversification index, total export and total imports during 1995-2022 and found long run association among them. Also, he explained short run causality, cointegrating equation, impulse response functions for the variables. In the chapter, convergence analysis and asymmetric shocks, he concluded that COMESA has not fulfilled all the OCA criteria during 1990-2020 and the bloc needs a long way for progress of monetary integration and for a common currency. However, the progress of COMESA is remarkable although it lost its targets due to COVID.
However, the book will help the students and researchers in context of economic integration in COMESA. The publication of the book is a good attempt for African integration process.
The book is published by KUNAL BOOKS, NEW DELHI-110002, (9811043697), Price-995/ or $20 only.
the book is being released by prof.Abhijit Ghosh,Dean of Business and Accountancy, Prof. Dato Ambassador and Prof. Sandeep Poddar
