To “ECO” or not to “ECO”? Evidence for the single currency agenda of ECOWAS

Idris Adediran, Afees Salisu and Ahamuefula Ogbonna

MPRA Paper from University Library of Munich, Germany

Abstract: In this study, we provide results to aid the ECOWAS in its final decision on the adoption of the single currency (the “ECO”) for the proposed regional monetary union. We demonstrate, with the fractional integration and cointegration techniques, evidences for the proposed monetary policy mechanism in the region to deal with shocks and the single currency to serve as a stabilisation tool. Hence, the results support the adoption of the ECO, with emphasis on preferably linking it with the US dollar than the Euro.

Keywords: ECOWAS; Fractional Cointegration; Single Currency (search for similar items in EconPapers)
JEL-codes: C51 F36 O55 (search for similar items in EconPapers)
Date: 2020-05-05
New Economics Papers: this item is included in nep-afr, nep-isf, nep-mon and nep-ore
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

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Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:109680

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