Commonalities in the Movements of Inflation Rates among Countries in the East African Community

R. Scott Hacker and Yvonne Umulisa

Emerging Markets Finance and Trade, 2022, vol. 58, issue 9, 2493-2504

Abstract: In this study, we investigate the degree to which inflation-rate movements for countries in the East African Community (EAC) have become more similar, which is an important issue for the EAC’s goal of creating a common currency. For the five EAC countries (excluding South Sudan), we find that comovements in inflation rates generally became more similar between 1995 and 2018. A decrease in the correlations of the three largest EAC members with the rest of the EAC (from each of their perspectives) after 2013 is concerning for a smoothly running monetary union.

Date: 2022
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Persistent link: https://EconPapers.repec.org/RePEc:mes:emfitr:v:58:y:2022:i:9:p:2493-2504

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DOI: 10.1080/1540496X.2021.1997738

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