The role of institutions in the success of economic integration: The case of ECOWAS

The Economic Community of West African States (ECOWAS) was formed on the basis of promoting integration among member states. This study aimed at investigating the role of institutions in promoting economic integration. The study covered all the 15 member countries and used data for the period 2002 to 2019. Thus, panel data analysis was employed as a method of analysis. Trade as a percent of GDP, voice and accountability, control of corruption and regulatory quality were the study variables. All these variables were found to be stationary. Using the fixed effects model, the study found that voice and accountability has a positive and significant effect on economic integration whereas control of corruption has a negative and significant effect on economic integration. Regulatory quality was found to have a negative but insignificant effect on economic integration. The study therefore, recommends the establishment of quality institutions in ECOWAS member states in order to increase the level of economic integration.