The Impact of Monetary Union on Macroeconomic Integration

Evidence from West Africa

Bibliographic Data

ID9727674
AuthorsD Fielding (0000-0003-0506-4233, United Nations University World Institute for Development Economics Research), Kalvinder Shields (0000-0002-3056-8364, The University of Melbourne)
Year2005
Volume72
Issue288
Pages683-704
Publication date2005-11-01
Peer ReviewedYes
Open AccessYes
TypeARTICLE
VenueEconomica (JOURNAL)
Journal identifiersISSN: 0013-0427 • E-ISSN: 1468-0335
PublisherWiley (PUBLISHER • GB)
DOI10.1111/j.1468-0335.2005.00438.x
OpenAlexW2061243712
LanguageEN
Citations received1
References cited14

Data from 19 African nations is used to investigate the hypothesis that monetary union—represented in this case by the CFA Franc Zone—augments the extent of macroeconomic integration. The paper covers two key dimensions of integration: the volume of bilateral trade, and the magnitude of cross‐country business cycle correlation. Restricting our attention to a part of the world in which (for historical reasons) monetary union membership is exogenous to economic characteristics, we can test whether the large single‐currency effects claimed by A. Rose apply within a sample of less developed countries

Business cycle · Common currency · Currency · Currency union · Economic and monetary union · Economic integration · Economics · European monetary union · European union · Financial Integration · Financial market · International economics · Macroeconomics · Monetary economics · Monetary policy · Optimum currency area · Sample (material) · Economic Policies and Impacts · Global Financial Crisis and Policies · Monetary Policy and Economic Impact

Tools

Open DOISci-Hub