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Monetary Union in West Africa: Who Might Gain, Who Might Lose, and Why?

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  1. Simplice Asongu, 2014. "Are proposed African monetary unions optimal currency areas? Real, monetary and fiscal policy convergence analysis," African Journal of Economic and Management Studies, Emerald Group Publishing Limited, vol. 5(1), pages 9-29, April.
  2. Ekong, Christopher N. & Onye, Kenneth U., 2012. "On The Feasibility of a Common Currency in West Africa: Evidence from a Multivariate Structural VAR," MPRA Paper 88357, University Library of Munich, Germany.
  3. Simplice A. Asongu, 2015. "Growth and Institutions in African Development by Augustin K. Fosu," Research Africa Network Working Papers 15/033, Research Africa Network (RAN).
  4. TOGBENU, Fo-Kossi Edem & KONDO TOKPOVI, Vénunyé Claude & SAWSSEN, benameur, 2021. "Convergence et optimalité de la zone ECO : une analyse par un modèle de mélange [Convergence and optimality of the ECO zone: an analysis by a mixture model]," MPRA Paper 106805, University Library of Munich, Germany.
  5. Roel Beetsma & Massimo Giuliodori, 2010. "The Macroeconomic Costs and Benefits of the EMU and Other Monetary Unions: An Overview of Recent Research," Journal of Economic Literature, American Economic Association, vol. 48(3), pages 603-641, September.
  6. Harrison Oluchukwu Okafor, 2013. "Estimating the Costs and Benefits of a Common Currency for the Second West African Monetary Zone (WAMZ)," Journal of Economics and Behavioral Studies, AMH International, vol. 5(2), pages 57-68.
  7. Adu, Raymond & Litsios, Ioannis & Baimbridge, Mark, 2022. "ECOWAS single currency: Prospective effects on trade," Journal of International Money and Finance, Elsevier, vol. 126(C).
  8. Ahmed Abdullahi D., 2011. "International Financial Integration, Investment and Economic Performance in Sub-Saharan African Countries," Global Economy Journal, De Gruyter, vol. 11(4), pages 1-28, December.
  9. Boldea, O. & Engwerda, J.C. & Michalak, T. & Plasmans, J.E.J. & Salmah, S., 2011. "A Simulation Study of an ASEAN Monetary Union (Replaces CentER DP 2010-100)," Other publications TiSEM e92b4cbf-8cde-4a19-83e2-8, Tilburg University, School of Economics and Management.
  10. Sampawende Jules Tapsoba, 2011. "Union Monétaire en Afrique de l'Ouest: Quelles Réponses à l'Hétérogénéité des Chocs ?," CERDI Working papers halshs-00554309, HAL.
  11. George S. Tavlas, 2009. "The Benefits And Costs Of Monetary Union In Southern Africa: A Critical Survey Of The Literature," Journal of Economic Surveys, Wiley Blackwell, vol. 23(1), pages 1-43, February.
  12. Sampawende Jules TAPSOBA, 2009. "Union Monétaire en Afrique de l’Ouest: Quelles Réponses à l’Hétérogénéité des Chocs ?," Working Papers 200912, CERDI.
  13. Buigut, Steven & Valev, Neven T., 2009. "Benefits from Mutual Restraint in a Multilateral Monetary Union," World Development, Elsevier, vol. 37(3), pages 585-594, March.
  14. Asongu, Simplice A. & Folarin, Oludele E. & Biekpe, Nicholas, 2019. "The long run stability of money demand in the proposed West African monetary union," Research in International Business and Finance, Elsevier, vol. 48(C), pages 483-495.
  15. Asta Ndongo & Ibrahima Thione Diop, 2021. "Economic and Monetary Integration in ECOWAS Countries: A Panel VAR Approach to Identify Macroeconomic Shocks," World Journal of Applied Economics, WERI-World Economic Research Institute, vol. 7(2), pages 61-87, December.
  16. Sampawende Jules Tapsoba, 2011. "Union Monétaire en Afrique de l'Ouest: Quelles Réponses à l'Hétérogénéité des Chocs ?," Working Papers halshs-00554309, HAL.
  17. Samba Diop & Simplice A. Asongu, 2020. "An Index of African Monetary Integration (IAMI)," Working Papers 20/003, European Xtramile Centre of African Studies (EXCAS).
  18. Kohnert, Dirk, 2005. "Die UEMOA und die CFA-Zone: Eine neue Kooperations-Kultur im frankophonen Afrika?," EconStor Open Access Articles and Book Chapters, ZBW - Leibniz Information Centre for Economics, pages 115-136.
  19. E D Balogun, 2010. "Alternative reconsideration of output growth differential for West African Monetary Zone," IFC Bulletins chapters, in: Bank for International Settlements (ed.), Proceedings of the SARB/IFC seminar on "Economic and financial convergence en route to regional economic integration: experience, prospects and statis, volume 32, pages 106-120, Bank for International Settlements.
  20. Mr. Oral Williams & Mr. Olumuyiwa S Adedeji, 2007. "Fiscal Reaction Functions in the CFA Zone: An Analytical Perspective," IMF Working Papers 2007/232, International Monetary Fund.
  21. Magazzino, Cosimo, 2012. "Revenue and expenditure nexus: A case study of ECOWAS," Economics Discussion Papers 2012-57, Kiel Institute for the World Economy (IfW Kiel).
  22. Xavier Debrun & Paul Masson & Catherine Pattillo, 2005. "Monetary union in West Africa: who might gain, who might lose, and why?," Canadian Journal of Economics/Revue canadienne d'économique, John Wiley & Sons, vol. 38(2), pages 454-481, May.
  23. Paul Alagidede & Simeon Coleman & Juan Carlos Cuestas, 2010. "Persistence of Inflationary Shocks: Implications for West African Monetary Union Membership," NBS Discussion Papers in Economics 2010/8, Economics, Nottingham Business School, Nottingham Trent University.
  24. Carlos Vieira & Isabel Vieira, 2013. "Monetary Integration In Eastern And Southern Africa: Choosing A Currency Peg For Comesa," South African Journal of Economics, Economic Society of South Africa, vol. 81(3), pages 356-372, September.
  25. Simplice A Asongu, 2013. "A Short-run Schumpeterian Trip to Embryonic African Monetary Zones," Economics Bulletin, AccessEcon, vol. 33(1), pages 859-873.
  26. Simplice Asongu & Jacinta Nwachukwu & Vanessa Tchamyou, 2017. "A Literature Survey On Proposed African Monetary Unions," Journal of Economic Surveys, Wiley Blackwell, vol. 31(3), pages 878-902, July.
  27. Simplice Asongu, 2014. "How Would Monetary Policy Matter In The Proposed African Monetary Unions? Evidence From Output And Prices," The African Finance Journal, Africagrowth Institute, vol. 16(2), pages 34-63.
  28. Abban, Stanley & Ofori-Abebrese, Grace, 2019. "The Prospect Of ECOWAS Currency Union On Intra-Regional Trade," MPRA Paper 102226, University Library of Munich, Germany.
  29. Agnès Bénassy‐Quéré & Maylis Coupet, 2005. "On the Adequacy of Monetary Arrangements in Sub‐Saharan Africa," The World Economy, Wiley Blackwell, vol. 28(3), pages 349-373, March.
  30. Carsten Hefeker, 2010. "Fiscal reform and monetary union in West Africa," Journal of International Development, John Wiley & Sons, Ltd., vol. 22(1), pages 86-102.
  31. Landon, Stuart & Smith, Constance E., 2007. "Government debt spillovers in a monetary union," The North American Journal of Economics and Finance, Elsevier, vol. 18(2), pages 135-154, August.
  32. Steven Buigut, 2006. "Monetary Integration Initiatives in Eastern and Southern Africa (ESA): Sorting the Overlapping Membership," International Finance, Wiley Blackwell, vol. 9(3), pages 295-315, December.
  33. John Hawkins & Paul Masson, 2003. "Economic aspects of regional currency areas and the use of foreign currencies," BIS Papers chapters, in: Bank for International Settlements (ed.), Regional currency areas and the use of foreign currencies, volume 17, pages 4-42, Bank for International Settlements.
  34. João Loureiro & Evaldo Baptista, 2021. "A single currency for the Economic Community of West Africa? An economic assessment," South African Journal of Economics, Economic Society of South Africa, vol. 89(4), pages 608-634, December.
  35. Kohnert, Dirk, 2007. "Togo: Failed election and misguided aid at the roots of economic misery," MPRA Paper 5207, University Library of Munich, Germany.
  36. Adjalala, Frida & Dissou, Yazid, 2023. "Idiosyncratic shocks in a currency union: Insights from West Africa," Economic Modelling, Elsevier, vol. 122(C).
  37. Asongu, Simplice & Nwachukwu, Jacinta & Tchamyou, Vanessa, 2017. "A summary of a survey on proposed African monetary unions," MPRA Paper 79637, University Library of Munich, Germany.
  38. Houssa, Romain, 2008. "Monetary union in West Africa and asymmetric shocks: A dynamic structural factor model approach," Journal of Development Economics, Elsevier, vol. 85(1-2), pages 319-347, February.
  39. Keen, Benjamin D. & Strong, Christine O., 2023. "Optimal fiscal and monetary policy in a model with government corruption," Finance Research Letters, Elsevier, vol. 58(PB).
  40. Simplice Asongu, 2014. "REER Imbalances and Macroeconomic Adjustments in the Proposed West African Monetary Union," South African Journal of Economics, Economic Society of South Africa, vol. 82(2), pages 276-289, June.
  41. Qureshi, Mahvash Saeed & Tsangarides, Charalambos G., 2012. "Hard or Soft Pegs? Choice of Exchange Rate Regime and Trade in Africa," World Development, Elsevier, vol. 40(4), pages 667-680.
  42. Chuku, Chuku, 2012. "The proposed eco: should West Africa proceed with a common currency?," MPRA Paper 43739, University Library of Munich, Germany.
  43. Mogaji, Peter Kehinde, 2016. "Inflation Deviations Assessments of OCA Properties in the WAMZ," MPRA Paper 98825, University Library of Munich, Germany.
  44. Adu, Raymond & Litsios, Ioannis & Baimbridge, Mark, 2019. "Real exchange rate and asymmetric shocks in the West African Monetary Zone (WAMZ)," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 59(C), pages 232-249.
  45. Fontana, Giuseppe & Kamara, Mohamed Sheriff Hamid, 2023. "Towards monetary union in the Economic Community of West African States (ECOWAS): Better policy harmonisation and greater intra-trade are needed," Journal of Policy Modeling, Elsevier, vol. 45(1), pages 58-73.
  46. Mr. Xavier Debrun & Mr. Manmohan S. Kumar, 2007. "The Discipline-Enhancing Role of Fiscal Institutions: Theory and Empirical Evidence," IMF Working Papers 2007/171, International Monetary Fund.
  47. Mogaji, Peter Kehinde, 2016. "Monetary Integration Tests for the OCA’s Business Cycles Synchronicity Criteria in the WAMZ," MPRA Paper 99066, University Library of Munich, Germany.
  48. Engwerda, J. & Boldea, O. & Michalak, T. & Plasmans, J. & Salmah,, 2012. "A simulation study of an ASEAN monetary union," Economic Modelling, Elsevier, vol. 29(5), pages 1870-1890.
  49. Afees Salisu & Idris Ademuyiwa, 2012. "Trade creation and trade diversion in West African Monetary Zone (WAMZ)," Economics Bulletin, AccessEcon, vol. 32(4), pages 3071-3081.
  50. René TAPSOBA & Jean-Louis COMBES & Nasser ARY TANIMOUNE, 2012. "Policy Mix Coherence: What Does it Mean for Monetary Policy in West Africa?," Working Papers 201213, CERDI.
  51. Coulibaly, Issiaka & Gnimassoun, Blaise, 2013. "Optimality of a monetary union: New evidence from exchange rate misalignments in West Africa," Economic Modelling, Elsevier, vol. 32(C), pages 463-482.
  52. Schäfer, Benjamin, 2016. "Monetary union with sticky prices and direct spillover channels," Journal of Macroeconomics, Elsevier, vol. 49(C), pages 99-118.
  53. Giovanni Andrea Cornia & Laura Deotti, 2008. "Millet Prices, Public Policy and Child Malnutrition: The case of Niger in 2005," Papers inwopa08/49, Innocenti Working Papers.
  54. Cham, Tamsir, 2016. "Investigating the Benefits of a Currency Union to Trade: A Case Study on WAMZ Countries," Policy Papers 2016-2, The Islamic Research and Teaching Institute (IRTI).
  55. Buigut, Steven K. & Valev, Neven T., 2005. "Is the proposed East African Monetary Union an optimal currency area? a structural vector autoregression analysis," World Development, Elsevier, vol. 33(12), pages 2119-2133, December.
  56. Ms. Katrin Elborgh-Woytek & Mr. Julian Berengaut, 2006. "Beauty Queens and Wallflowers: Currency Unions in the Middle East and Central Asia," IMF Working Papers 2006/226, International Monetary Fund.
  57. Alexandre Henry, 2019. "Monetary Union, Competitiveness and Raw Commodity Dependence: Insights from Africa," Comparative Economic Studies, Palgrave Macmillan;Association for Comparative Economic Studies, vol. 61(2), pages 285-301, June.
  58. Xavier Debrun, 2006. "Tying hands is not commitment- can fiscal rules and institutions really enhance fiscal discipline?," Working Papers 48, Bruegel.
  59. Asongu, Simplice, 2015. "Financial development in Africa - a critical examination," MPRA Paper 82131, University Library of Munich, Germany.
  60. Kohnert, Dirk, 2005. "African Monetary Unions - Dominated by the North? On the Relevance of Rational Economic Reasoning Under African Conditions," MPRA Paper 82083, University Library of Munich, Germany.
  61. Onyeaka, Keleenna & Agbugba, Ikechi Kelechi & Iheonu, Chimere Okechukwu, . "Ditch the NAIRA and Champion the ECO? A Post-Forex Crisis Assessment," Journal of Economic and Sustainable Growth 3, Office Of The Chief Economist, Development Bank of Nigeria, vol. 1.
  62. Alagidede, Paul & Coleman, Simeon & Cuestas, Juan Carlos, 2012. "Inflationary shocks and common economic trends: Implications for West African monetary union membership," Journal of Policy Modeling, Elsevier, vol. 34(3), pages 460-475.
  63. Patrick-Hervé Mbouombouo Mfossa, 2015. "GOUVERNANCE ECONOMIQUE ET STABILISATION DES CHOCS ASYMETRIQUES: Quel mécanisme pour une meilleure viabilité de la CEMAC ?," Working Papers hal-01213989, HAL.
  64. Balogun, Emmanuel Dele, 2009. "Inflation differential in the West African Monetary Zone (WAMZ) area:Implications for unionization," MPRA Paper 13045, University Library of Munich, Germany.
  65. Paul R. Masson, 2020. "Lezioni dall'eurozona per l'Africa (Lessons for Africa from the Eurozone)," Moneta e Credito, Economia civile, vol. 73(289), pages 11-32.
  66. Zhao, Xiaodan & Kim, Yoonbai, 2009. "Is the CFA Franc Zone an Optimum Currency Area?," World Development, Elsevier, vol. 37(12), pages 1877-1886, December.
  67. Daniel Agyapong & Anokye M. Adam, 2012. "Exchange Rate Behaviour: Implication for West African Monetary Zone," International Journal of Academic Research in Accounting, Finance and Management Sciences, Human Resource Management Academic Research Society, International Journal of Academic Research in Accounting, Finance and Management Sciences, vol. 2(4), pages 215-228, October.
  68. Paweł Młodkowski, 2006. "Konwergencja fiskalna w uniach walutowych w Afryce na tle rozwiązań europejskich," Gospodarka Narodowa. The Polish Journal of Economics, Warsaw School of Economics, issue 1-2, pages 19-36.
  69. Xavier Debrun & Paul R. Masson, 2013. "Modelling Monetary Union in Southern Africa: Welfare Evaluation for the CMA and SADC," South African Journal of Economics, Economic Society of South Africa, vol. 81(2), pages 275-291, June.
  70. Asongu Simplice, 2012. "Are Proposed African Monetary Unions Optimal Currency Areas? Real and Monetary Policy Convergence Analysis," Working Papers of the African Governance and Development Institute. 12/005, African Governance and Development Institute..
  71. Strong, Christine & Yayi, Constant, 2021. "Central bank independence, fiscal deficits and currency union: Lessons from Africa," Journal of Macroeconomics, Elsevier, vol. 68(C).
  72. Tsangarides, Charalambos G. & Qureshi, Mahvash Saeed, 2008. "Monetary Union Membership in West Africa: A Cluster Analysis," World Development, Elsevier, vol. 36(7), pages 1261-1279, July.
  73. Mahvash S Qureshi & Mr. Charalambos G Tsangarides, 2006. "What is Fuzzy About Clustering in West Africa?," IMF Working Papers 2006/090, International Monetary Fund.
  74. Diagne, Youssoupha Sakrya, 2021. "Enjeux du projet de monnaie unique CEDEAO [Implications of the ECOWAS single currency project]," MPRA Paper 113995, University Library of Munich, Germany.
  75. Richard Pomfret, 2003. "Formation and Dissolution of Monetary Unions: Evidence from Europe, and Lessons for Elsewhere," School of Economics and Public Policy Working Papers 2003-03, University of Adelaide, School of Economics and Public Policy.
  76. Issiaka Coulibaly & Blaise Gnimassoun, 2012. "Optimality of a monetary union : New evidence from exchange rate misalignments in West Africa," Working Papers hal-04141049, HAL.
  77. Christine Olivia Strong, 2023. "The impact of fiscal rules on government debt: evidence from the CFA zone," Empirical Economics, Springer, vol. 65(5), pages 2357-2391, November.
  78. Gilles Duffrenot & Kimiko Sugimoto, 2010. "Pegging the future West African single currency in regard to internal/external competitiveness: a counterfactual analysis," William Davidson Institute Working Papers Series wp974, William Davidson Institute at the University of Michigan.
  79. Mahvash Saeed Qureshi & Charalambos G. Tsangarides, 2011. "Exchange Rate Regimes and Trade: Is Africa Different?," WIDER Working Paper Series wp-2011-014, World Institute for Development Economic Research (UNU-WIDER).
  80. Lambert N'galadjo Bamba, 2004. "Analyse du Processus de Convergence Dans la Zone UEMOA," WIDER Working Paper Series RP2004-18, World Institute for Development Economic Research (UNU-WIDER).
  81. Mr. Michal Hulej & Mr. Charalambos G Tsangarides & Mr. Pierre Ewenczyk, 2006. "Stylized Facts on Bilateral Trade and Currency Unions: Implications for Africa," IMF Working Papers 2006/031, International Monetary Fund.
  82. Isaac Mensah, 2015. "Monetary and Economic Union in West Africa: An analysis on trade," International Journal of Business and Economic Sciences Applied Research (IJBESAR), Democritus University of Thrace (DUTH), Kavala Campus, Greece, vol. 8(2), pages 87-118, October.
  83. Durevall, Dick, 2011. "East African Community: Pre-conditions for an Effective Monetary Union," Working Papers in Economics 520, University of Gothenburg, Department of Economics.
  84. NASSER ARY TANIMOUNE & Gervasio Semedo, 2013. "Inflation Et Objectif De Monnaie Unique Dans Les Pays De La Cedeao :Convergence Nominale Versus Variabilite Relative Des Prix: Inflation And Common Currency Goal In Ecowas :Nominal Convergence Versus ," Brussels Economic Review, ULB -- Universite Libre de Bruxelles, vol. 56(3-4), pages 261-289.
  85. Massimo Amato & Kako Nubukpo, 2020. "Una nuova moneta per gli stati dell'Africa dell'Ovest. Le condizioni teoriche e politiche della sua fattibilità (A new currency for West African states: The theoretical and political conditions of its," Moneta e Credito, Economia civile, vol. 73(289), pages 83-107.
  86. Sodiq Olaiwola Jimoh & Soo Y. Chua, 2024. "Business Cycle Synchronisation and Regional Migration: Testing the OCA Criteria in the West African Region," The Indian Journal of Labour Economics, Springer;The Indian Society of Labour Economics (ISLE), vol. 67(1), pages 97-108, March.
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