Macroeconomic Shocks and Trade Flows within Sub-Saharan Africa
AbstractAfrica has more countries than any other continent, and hence the largest number of potential monetary and exchange rate arrangements. This paper looks at whether the existing highly fractured monetary arrangements in Sub-Saharan Africa correspond to what might be expected from the theory of optimum currency areas. This is done by analyzing both the size and correlation of real disturbances across countries and the level of intra-regional trade. The results indicate little evidence that Sub-Saharan African countries would benefit in the near future from larger currency unions.
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Bibliographic InfoPaper provided by International Monetary Fund in its series IMF Working Papers with number 95/142.
Date of creation: 01 Dec 1995
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- Mkenda, Beatrice Kalinda, 2001. "Is East Africa an Optimum Currency Area?," Working Papers in Economics 41, University of Gothenburg, Department of Economics.
- Pierre van den Boogaerde & Charalambos G. Tsangarides, 2005. "Ten Years After the CFA Franc Devaluation," IMF Working Papers 05/145, International Monetary Fund.
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