I do not myself have a position on this issue, but I found this analysis by Ken Opalo interesting:
The main argument below is that while the people of Somaliland deserve and have a strong case for international recognition, such a development at this time would very likely take away the very incentives that have set them apart from the rest of Somalia over the last 33 years.
To be blunt, achieving full sovereignty with de jure international recognition at this time would do little beyond incentivizing elite-level pursuit of sovereign rents at the expense of continued political and economic development. What has made Somaliland work is that its elites principally derive their legitimacy from their people, and not the international system. Stated differently, full sovereignty runs the risk of separating both the Somaliland state and ruling elites from the productive forces of society; which in turn would free politicians (and policymakers) from having to think of their people as the ultimate drivers of their overall economic wellbeing. Just like in the rest of the Continent, the resulting separation of “suspended elites” from the socio-economic foundations of Somaliland society and inevitable policy extraversion would be catastrophic for Somalilanders.
The last thing the Horn needs is another Djibouti — a country whose low-ambition ruling elites are content with hawking their geostrategic location at throwaway prices while doing precious little to advance their citizens’ material well-being (Djibouti’s poverty rate is a staggering 70%).
There is much more at the link.
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