Application of the Risk Model to Africa Sub-Group Configurations
Application of the Risk Model to Africa Sub-Group Configurations
Beyond the application of the risk model to our initial sample of 30 African countries, we also undertook separate estimates of the various effects on regional community groupings. We first did separate regression estimates for sub-samples of Francophone and Anglophone African countries. We then did further estimates for four regional economic groupings, namely, the Common Market for Eastern and Southern Africa (COMESA), for the West African Economic Community (ECOWAS), for the Southern Africa Development community (SADC), and for the Central African Economic Union (UDEAC). We note that since we have used membership only for our sample of countries rather than resampling for complete membership in these configurations, our estimates should be interpreted as indicative rather than comprehensive.
