Economic Integration in West Africa: Does the CFA Make a Difference?
David Fielding () and
No 03/8, Discussion Papers in Economics from Division of Economics, School of Business, University of Leicester
In this paper we use data from 17 African nations in order to investigate the hypothesis that monetary union – represented in this case by the CFA Franc Zone – augments the extent of macroeconomic integration in developing countries. The paper covers a number of dimensions of integration including the volume of bilateral trade, real exchange rate volatility and the magnitude of cross-country business cycle correlation.
Keywords: Monetary Union; Africa; Trade; Business Cycles (search for similar items in EconPapers)
JEL-codes: E39 F15 F49 O11 (search for similar items in EconPapers)
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