EconPapers    
Economics at your fingertips  
 

Co-movement of real exchange rates in the West African Monetary Zone

Peterson Owusu Junior (), Anokye M. Adam and George Tweneboah ()

Cogent Economics & Finance, 2017, vol. 5, issue 1, 1351807

Abstract: In three different ways of lead–lag causal relationship, covariance/correlation and coherence, we apply the wavelets analysis via the Continuous Morlet Wavelet Transform to delineate the significant frequency–time domain lead–lag relationships for the West African Monetary Zone member countries for real US dollar exchange rates and their absolute log returns from January 2001 to April 2015. The results indicate that lead–lag associations at different periodicities vary across the countries. No one country comes off as leading conveniently for both real and absolute returns of the exchange rates. Our results corroborate other evidences of non-convergence of exchange rates in the monetary zone, which hinders the eventual implementation of the single currency in the ECOWAS region.

Date: 2017
References: View references in EconPapers View complete reference list from CitEc
Citations: Track citations by RSS feed

Downloads: (external link)
http://hdl.handle.net/10.1080/23322039.2017.1351807 (text/html)
Access to full text is restricted to subscribers.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:taf:oaefxx:v:5:y:2017:i:1:p:1351807

Ordering information: This journal article can be ordered from
http://www.tandfonline.com/pricing/journal/OAEF20

Access Statistics for this article

Cogent Economics & Finance is currently edited by Steve Cook, Caroline Elliott, David McMillan, Duncan Watson and Xibin Zhang

More articles in Cogent Economics & Finance from Taylor & Francis Journals
Bibliographic data for series maintained by Chris Longhurst ().

 
Page updated 2019-11-10
Handle: RePEc:taf:oaefxx:v:5:y:2017:i:1:p:1351807