A summary of a survey on proposed African monetary unions

Arbeitspapier

This review summarises a survey of about 70 empirical studies on proposed African monetary unions published during the past fifteen years. Four main strands are outlined in four tables. They include the: (i) West African Monetary Zone (WAMZ), (ii) East African Monetary Union (EAMU), (iii) Southern African Monetary Union (SAMU) and (iv) African Monetary Union (AMU). A number of concerns are apparent from the feasibility and/or desirability of potential monetary unions. They are variations in: empirical strategies, selection of variables, considered periodicities and sampled countries. The Hegelian dialectics are used to establish selective expansion as the predominant mode of monetary integration. Some studies make the case for strong institutions and pegs as alternatives to currency unions. The employment of cluster analysis, distinguishing shocks from responses in the examination of business cycle synchronisation and the disaggregation of panels into sub-samples provide more subtle policy implications.

Object Details

• Language: Englisch

References and Relationships

• Bibliographic citation: Series: AGDI Working Paper ; No. WP/17/008

Classification and Topics

• Classification: Wirtschaft ; Economic Integration ; Financial Aspects of Economic Integration ; International Policy Coordination and Transmission ; Economywide Country Studies: Africa ; Comparative Studies of Particular Economies
• Subject: Currency Area ; Policy Coordination ; Africa

Contributors, Places and Time

• Event: Geistige Schöpfung
• (who): Asongu, Simplice ; Nwachukwu, Jacinta C. ; Tchamyou, Vanessa S.
• Event: Veröffentlichung
• (who): African Governance and Development Institute (AGDI)
• (where): Yaoundé
• (when): 2017

Further information

• Handle: http://hdl.handle.net/10419/173614
• Last update: 10.03.2025, 11:45 AM CET