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Economic Performance Across Monetary Unions in Africa

In: Monetary and Financial Systems in Africa

Author

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  • Joseph Onjala

    (University of Nairobi)

Abstract

The chapter reviews the recent literature on the economic integration and economic performance nexus. Then, it discusses trends in the economic performance of the African regional economies by analyzing the possible financial integration and economic performance nexus. Finally, the chapter aims at providing lessons for government and policymakers to facilitate better, more accurate, and informed decision-making around their participation in financial and economic integration. Further to the introduction, the remainder of the chapter has three sections: a discussion of the theoretical and empirical economic integration and economic performance nexus in section “Theoretical and Empirical Literature on Effect of Monetary Unions on Economies”. Section reviews “Empirical Literature”, using data from international sources (UNDP, Human Development Indicators, and World Bank’s World Development Indicators), reviews the economic performance within and across the regional economies. Economic growth performance, GDP per capita, Exports and Imports, GDP, Foreign Direct Investment flows, and Human Development performance are the leading indicators in examining a nexus with financial integration. Section “The State of Integration as a Pathway to Monetary Unions in Africa” highlights the main challenges of monetary integration; the final section will conclude with some policy recommendations.

Suggested Citation

  • Joseph Onjala, 2022. "Economic Performance Across Monetary Unions in Africa," Springer Books, in: Aloysius Ajab Amin & Regina Nsang Tawah & Augustin Ntembe (ed.), Monetary and Financial Systems in Africa, chapter 0, pages 261-281, Springer.
    • Handle: RePEc:spr:sprchp:978-3-030-96225-8_12
    DOI: 10.1007/978-3-030-96225-8_12
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