Eastern and Southern Africa Monetary Integration: A Structural Vector Autoregression Analysis (2005)

Steven K. Buigut () and Neven Valev
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Steven K. Buigut: Andrew Young School of Policy Studies, Georgia State University, http://aysps.gsu.edu/

International Center for Public Policy Working Paper Series, at AYSPS, GSU from International Center for Public Policy, Andrew Young School of Policy Studies, Georgia State University

Abstract: This paper uses VAR techniques to investigate the potential for forming monetary unions in Eastern and Southern Africa. All countries in the sample are members of various regional economic organizations. Some of the organizations have a monetary union as an immediate objective whereas others consider it as a possibility in the more distant future. Our objective is to sort out which countries are suitable candidates for a monetary union based on the synchronicity of demand and supply disturbances. Although economic shocks are not highly correlated across the entire region, we tentatively identify three sub regional clusters of countries that may benefit from a currency union.

Keywords: Eastern; and; Southern; Africa; Monetary; Integration:; Structural; Vector; Analysis (search for similar items in EconPapers)
Pages: 30 pages
Date: 2005-02-01
New Economics Papers: this item is included in nep-cba, nep-dev, nep-mac and nep-mon
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Citations: View citations in EconPapers (5)

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Persistent link: https://EconPapers.repec.org/RePEc:ays:ispwps:paper0504

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