Includes bibliographical references (pages 175-182) and index.
Contents:
Introduction and Overview -- Basic Analytical Considerations -- Integration through Trade -- Macroeconomic and Structural Convergence -- Exchange Rate and Monetary Policy Regimes -- Illustrative Monetary Policy Rules -- Institutional Framework, Policy Coordination -- The Path Forward -- Appendixes: -- Comparing and contrasting Asia's and Europe's approaches to economic integration -- Macroeconomic convergence criteria for existing monetary/currency unions -- General equilibrium analysis of alternative exchange rate and monetary policy regimes -- Details on construction of data for analytical exercises.
Summary:
"Leaders of the fifteen-member Economic Community of West African States (ECOWAS) had set a goal of achieving a monetary and currency union by late 2020. The COVID pandemic and the lack of macroeconomic convergence among member countries precipitated a postponement of this goal. As this book shows, a currency union could offer many potential benefits but would also come with significant costs, along with operational challenges and transitional risks. This book, by two leading experts on economics and Africa, makes a major analytical contribution to the debates now under way about how ECOWAS could achieve greater trade and financial integration, with or without a currency union, and the ramifications for the African continent."-- Publisher description.
This resource is supported by the Institute of Museum and Library Services under the provisions of the Library Services and Technology Act as administered by State Library of Iowa.