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Economic Integration in West Africa: Does the CFA Make a Difference?

By David Fielding and Kalvinder K. Shields

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 in developing countries. The paper covers a number of dimensions of integration including the volume of bilateral trade, real exchange rate volatility and the magnitude of cross-country business cycle correlation

Topics: Monetary Union, Africa, Trade, Business Cycles
Publisher: Dept. of Economics, University of Leicester.
Year: 2003
OAI identifier: oai:lra.le.ac.uk:2381/4417

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