BOOK RELEASE----
ECONOMIC INTEGRATION OF COMESA ----by -DR.DEBESH BHOWMIK & FITZGERALD WITIKA
The book “Economic Integration of COMESA” is being released today (25th July 2024) in Lincoln University College, Malaysia by Prof. Abhijit Ghosh-the dean of Business and Accountancy ,Prof.Dato Amabassador and Prof. Sandeep Poddar-the Deputy VC of the University, 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, NEWDELHI-110002, (9811043697), Price-995/ or $20
only.
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