Will the Euro Trigger More Monetary Unions in Africa?

Patrick Honohan and Philip R. Lane

No wp-2000-176, WIDER Working Paper Series from World Institute for Development Economic Research (UNU-WIDER)

Abstract: We analyse the prospects for greater monetary integration in Africa, in the wake of EMU. We argue that the structural characteristics of African economies are quite different to the EMU members but that much can be gained from monetary cooperation, as an external agency of restraint and in promoting stability in the financial sector. EMU has only a marginal impact on the net benefits of monetary cooperation but the euro would be a natural anchor for any African monetary unions. Indeed, the most likely route to new monetary cooperation in Africa is via a common peg to the euro.

Keywords: Economic integration; Financial crisis; Financial institutions; Financial institutions; International; Monetary policy (search for similar items in EconPapers)
Date: 2000
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Citations: View citations in EconPapers (13)

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Related works:
Working Paper: Will the Euro Trigger More Monetary Unions in Africa? (2000)
Working Paper: Will the Euro trigger more monetary unions in Africa? (2000)
Working Paper: Will the Euro Trigger More Monetary Unions in Africa?
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Persistent link: https://EconPapers.repec.org/RePEc:unu:wpaper:wp-2000-176

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