Economic Integration in West Africa: Does the CFA Make a Difference?
Pages:
25
Item Reference:
W-2003/4
Publication Date:
2003
Publication Place:
Bruges
Publication Language:
EN
Publisher:
UNU Institute on Comparative Regional Integration Studies
Series Title:
UNU-CRIS Working Papers
Copyright Year:
2003
Working Paper Type:
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 indeveloping countries. The paper covers a number of dimensions of integration including the volume ofbilateral trade, real exchange rate volatility and the magnitude of cross-country business cycle correlation.
