Convergence et optimalité de la zone ECO: une analyse par un modèle de mélange

Convergence and optimality of the ECO zone: an analysis by a mixture model

Fo-Kossi Edem Togbenu, Vénunyé Claude Kondo Tokpovi and Benameur Sawssen

MPRA Paper from University Library of Munich, Germany

Abstract: Our study examines the progress made by ECOWAS member countries in creating a single currency. It therefore analyses what the last few years have taught us about the convergence and optimality of the ECOWAS zone based on a Mixture Model approach to classification. The variables used come from the theory of optimal currency zones and convergence criteria. Two periods were considered: 2000-2013 and 2014-2018. Our results show remarkable progress in the convergence of ECOWAS countries. The results for the 2014-2018 period show very little heterogeneity in the ECOWAS countries compared to the results of the previous period. Indeed, the number of classes resulting from this analysis is nine for the first period and two for the second period. The results therefore suggest that a monetary union is possible for ECOWAS countries except Liberia and Nigeria.

Keywords: ECOWAS; convergence; optimality; Monetary Union; Mixture Model. (search for similar items in EconPapers)
JEL-codes: C10 E0 E00 (search for similar items in EconPapers)
Date: 2021-03-24
New Economics Papers: this item is included in nep-mac
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