On the Pattern of Currency Blocs in Africa:
This paper seeks to elucidate the debate over currency union in Africa. The paper examines whether empirical investigation points to the gradual emergence of currency blocs. Based on the historical data on inflation, trade, and the comovements of prices and outputs, I argue that the emergence of lar...
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| Format: | Elektronisch E-Book |
| Sprache: | English |
| Veröffentlicht: |
Washington, D.C
International Monetary Fund
2005
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| Schriftenreihe: | IMF Working Papers
Working Paper No. 05/45 |
| Online-Zugang: | UBW01 UEI01 LCO01 SBR01 UER01 SBG01 UBG01 FAN01 UBT01 FKE01 UBY01 UBA01 FLA01 UBM01 UPA01 UBR01 FHA01 FNU01 BSB01 TUM01 Volltext |
| Zusammenfassung: | This paper seeks to elucidate the debate over currency union in Africa. The paper examines whether empirical investigation points to the gradual emergence of currency blocs. Based on the historical data on inflation, trade, and the comovements of prices and outputs, I argue that the emergence of large-scale currency blocs in Africa will follow a gradual path and that this dynamic does not lead to the emergence of a single continental currency at this time. Rather, the pattern which emerges seems to suggest three blocs: one in West Africa, a second around South Africa, and a third in Central Africa. Although little evidence is found supporting the emergence of a single African currency at this time, the emergence of an African currency union is not necessarily precluded, since the ultimate decision to surrender a nation''s monetary policy to a supranational institution is not made based solely on economic considerations. I then address the issue of a possible anchor for the union, were it to emerge and opt for an anchorage. I find- based on the trade criterion-that the euro seems to be a good choice |
| Beschreibung: | 1 Online-Ressource (38 p) |
| ISBN: | 1451860641 9781451860641 |
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| illustrated | Not Illustrated |
| index_date | 2024-07-03T20:13:23Z |
| indexdate | 2024-07-10T09:35:31Z |
| institution | BVB |
| isbn | 1451860641 9781451860641 |
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| series2 | IMF Working Papers |
| spelling | Yehoue, Etienne B. Verfasser aut On the Pattern of Currency Blocs in Africa Yehoue, Etienne B Washington, D.C International Monetary Fund 2005 1 Online-Ressource (38 p) txt rdacontent c rdamedia cr rdacarrier IMF Working Papers Working Paper No. 05/45 This paper seeks to elucidate the debate over currency union in Africa. The paper examines whether empirical investigation points to the gradual emergence of currency blocs. Based on the historical data on inflation, trade, and the comovements of prices and outputs, I argue that the emergence of large-scale currency blocs in Africa will follow a gradual path and that this dynamic does not lead to the emergence of a single continental currency at this time. Rather, the pattern which emerges seems to suggest three blocs: one in West Africa, a second around South Africa, and a third in Central Africa. Although little evidence is found supporting the emergence of a single African currency at this time, the emergence of an African currency union is not necessarily precluded, since the ultimate decision to surrender a nation''s monetary policy to a supranational institution is not made based solely on economic considerations. I then address the issue of a possible anchor for the union, were it to emerge and opt for an anchorage. I find- based on the trade criterion-that the euro seems to be a good choice Online-Ausg http://elibrary.imf.org/view/IMF001/05037-9781451860641/05037-9781451860641/05037-9781451860641.xml Verlag URL des Erstveröffentlichers Volltext |
| spellingShingle | Yehoue, Etienne B. On the Pattern of Currency Blocs in Africa |
| title | On the Pattern of Currency Blocs in Africa |
| title_auth | On the Pattern of Currency Blocs in Africa |
| title_exact_search | On the Pattern of Currency Blocs in Africa |
| title_exact_search_txtP | On the Pattern of Currency Blocs in Africa |
| title_full | On the Pattern of Currency Blocs in Africa Yehoue, Etienne B |
| title_fullStr | On the Pattern of Currency Blocs in Africa Yehoue, Etienne B |
| title_full_unstemmed | On the Pattern of Currency Blocs in Africa Yehoue, Etienne B |
| title_short | On the Pattern of Currency Blocs in Africa |
| title_sort | on the pattern of currency blocs in africa |
| url | http://elibrary.imf.org/view/IMF001/05037-9781451860641/05037-9781451860641/05037-9781451860641.xml |
| work_keys_str_mv | AT yehoueetienneb onthepatternofcurrencyblocsinafrica |