Economic Integration in West Africa: Does the CFA Make a Difference?

David Fielding and Kalvinder Shields

No 03/8, Discussion Papers in Economics from Division of Economics, School of Business, University of Leicester

Abstract: 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)
Date: 2003-04
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Citations: View citations in EconPapers (14)

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