ABSTRACT
The severe economic instability of the 1970s, which adversely affected both developed and developing countries, drew attention to the growing interdependence of the global community. One of the great problems facing all economic integration schemes is that of the unequal distribution of the benefits and costs of integration. The founders of Economic Community of the West African States (ECOWAS) were well aware of this problem, and redistributive mechanisms were written into the treaty establishing ECOWAS. The operations of the Fund for Co-operation, Compensation, and Development are crucial for the success of ECOWAS. The necessity of increased and more effective international cooperation is evident to all, and this issue has come to dominate discussions at international meetings. The tendency of many countries to be guided by foreign models continues to linger in the field of economic cooperation in Africa. The treaties of too many of the schemes have been based on similar schemes in developed parts of the world.
