摘要：Through the use of gravity model, this study endeavours to apprehend factors affecting the importance of the Economic Community of West African States (ECOWAS) intra-community trade flows. As expected, it resulted that remoteness and enclosure reduce the volume of intra-community trade while proximity (geographical, linguistic or monetary) increases it. Also, economic and demographic dynamics are sources of more increased trade within ECOWAS. The same applies to stability of exchange rates and the openness of national economies. However, taking into consideration the heterogeneity of flows through the control over invariable factors in time, only the depreciation of exchange rates and the openness of economies determine the volumes of intra-ECOWAS trade flows.
关键词：Bilateral trade;ECOWAS;gravity model;panel data;currency depreciation;openness;regional integration;West Africa
