Financial Integration in the West African Monetary Union

Amadou Sy

Journal of Financial Transformation, 2007, vol. 19, 91-103

Abstract: This study assesses the degree of financial integration in the WAEMU (West African Economic and Monetary Union). The structure of the financial sector and its institutional arrangements indicate that financial integration is well advanced in some aspects. Common and foreign ownership of banks is very high and cross-border transactions are frequent in the government securities markets. Common institutions help achieve a high degree of similarity of rules. There is nonetheless scope for further financial integration as indicated by persistent deviations from the law of one price, limited cross-border bank transactions, and differences in treatment. Policy measures could, therefore, help achieve greater financial convergence.

Keywords: BCEAO; Financial integration; Sigma- and Beta- Convergence; WAEMU (search for similar items in EconPapers)
JEL-codes: G21 G28 (search for similar items in EconPapers)
Date: 2007
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Citations: View citations in EconPapers (4)

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Persistent link: https://EconPapers.repec.org/RePEc:ris:jofitr:0873

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