The Impact of Monetary Union on Macroeconomic Integration: Evidence from West Africa

David Fielding and Kalvinder Shields

No RP2004-17, WIDER Working Paper Series from World Institute for Development Economic Research (UNU-WIDER)

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. 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: Business cycles; Economic integration; Macroeconomics; Econometric models (Monetary policy); Panel analysis (search for similar items in EconPapers)
Date: 2004
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Journal Article: The Impact of Monetary Union on Macroeconomic Integration: Evidence from West Africa (2005)
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Persistent link: https://EconPapers.repec.org/RePEc:unu:wpaper:rp2004-17

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