Choose an application

• Reference Manager
• EndNote
• RefWorks (Direct export to RefWorks)

This study assesses the degree of financial integration in the West African Economic and Monetary Union (WAEMU). The structure of the financial sector and its institutional arrangements indicate that financial integration is well advanced in some aspects. Common and foreign ownership of banks is very high and cross-border transactions are frequent in the government securities markets. Common institutions help achieve a high degree of similarity of rules. There is nonetheless scope for further financial integration as indicated by persistent deviations from the law of one price, limited cross-border bank transactions, and differences in treatment. Policy measures could therefore help achieve greater financial convergence.

Africa, West -- Economic conditions. --- Electronic books. -- local. --- Monetary unions -- Africa, West. --- Finance --- Business & Economics --- Money --- Monetary unions --- Africa, West --- Economic conditions. --- Common currencies --- Currency areas --- Currency unions --- Optimum currency areas --- Currency question --- Banks and Banking --- Finance: General --- Investments: General --- Banks --- Depository Institutions --- Micro Finance Institutions --- Mortgages --- General Financial Markets: General (includes Measurement and Data) --- Banking --- Investment & securities --- Financial integration --- Commercial banks --- Treasury bills and bonds --- Interbank markets --- Banks and banking --- International finance --- Government securities --- Côte d'Ivoire

Choose an application

• Reference Manager
• EndNote
• RefWorks (Direct export to RefWorks)

This paper explores and quantifies several aspects of the performance of currency unions using an augmented version of the gravity model and focusing on two samples, the world and Africa. Our empirical findings suggest that, in principle, membership in a currency union should benefit Africa as much as it does the rest of the world. In addition, we find evidence from both samples that the effect of currency unions on trade is large, almost a doubling; currency unions are associated with trade creation, increase price co-movements among members, and make trade more stable; and longer duration of currency union membership brings about more benefits, although with some diminishing returns.

Commerce -- Econometric models. --- Electronic books. -- local. --- Monetary unions -- Africa -- Econometric models. --- Monetary unions -- Econometric models. --- Finance --- Business & Economics --- International Finance --- Commerce --- Monetary unions --- Econometric models. --- Trade --- Common currencies --- Currency areas --- Currency unions --- Optimum currency areas --- Economics --- Business --- Transportation --- Currency question --- Money --- Traffic (Commerce) --- Merchants --- Econometrics --- Exports and Imports --- Labor --- Money and Monetary Policy --- Financial Aspects of Economic Integration --- Labor-Management Relations, Trade Unions, and Collective Bargaining: General --- Trade Policy --- International Trade Organizations --- Econometric Modeling: General --- Monetary Systems --- Standards --- Regimes --- Government and the Monetary System --- Payment Systems --- International economics --- Trade unions --- Econometrics & economic statistics --- Monetary economics --- Labor unions --- Plurilateral trade --- Gravity models --- Currencies --- International trade --- Econometric models --- South Africa

Choose an application

• Reference Manager
• EndNote
• RefWorks (Direct export to RefWorks)

African regional trade integration has grown exponentially in the last decade. This book is the first comprehensive analysis of the legal framework within which it is being pursued. It will fill a huge knowledge gap and serve as an invaluable teaching and research tool for policy makers in the public and private sectors, teachers, researchers and students of African trade and beyond. The author argues that African Regional Trade Agreements (RTAs) are best understood as flexible legal regimes particularly given their commitment to variable geometry and multiple memberships. He analyzes the progress made toward trade liberalization in each region, how the RTAs are financed, their trade remedy and judicial regimes, and how well they measure up to Article XXIV of GATT. The book also covers monetary unions as well as intra-African regional integration, and examines free trade agreements with non-African regions including the Economic Partnership Agreements with the European Union.

Foreign trade regulation --- Monetary unions --- Foreign trade regulation. --- Free trade. --- Free trade and protection --- Trade, Free --- Trade liberalization --- International trade --- Export and import controls --- Foreign trade control --- Import and export controls --- International trade control --- International trade regulation --- Prohibited exports and imports --- Trade regulation --- Common currencies --- Currency areas --- Currency unions --- Optimum currency areas --- Currency question --- Money --- Law and legislation --- Africa --- Economic integration. --- Foreign economic relations. --- Free trade --- Afrika --- handelspolitiek, internationaal --- handelsrecht --- recht, internationaal --- Economic integration --- Foreign economic relations --- Law --- General and Others --- Foreign trade regulation - Africa --- Monetary unions - Africa --- Africa - Economic integration --- Africa - Foreign economic relations

Choose an application

• Reference Manager
• EndNote
• RefWorks (Direct export to RefWorks)

Depuis plusieurs années, le FMI publie un nombre croissant de rapports et autres documents couvrant l'évolution et les tendances économiques et financières dans les pays membres. Chaque rapport, rédigé par une équipe des services du FMI à la suite d'entretiens avec des représentants des autorités, est publié avec l'accord du pays concerné.

Africa, West -- Economic conditions.. --- Economic development.. --- International Monetary Fund.. --- Monetary unions -- Africa, West. --- Development, Economic --- Economic growth --- Growth, Economic --- Economic policy --- Economics --- Statics and dynamics (Social sciences) --- Development economics --- Resource curse --- Banks and Banking --- Exports and Imports --- Inflation --- Macroeconomics --- Public Finance --- Banks --- Depository Institutions --- Micro Finance Institutions --- Mortgages --- Debt --- Debt Management --- Sovereign Debt --- Fiscal Policy --- Financial Aspects of Economic Integration --- Price Level --- Deflation --- Banking --- Public finance & taxation --- International economics --- Economic & financial crises & disasters --- Public debt --- Fiscal stance --- Regional integration --- Banks and banking --- Debts, Public --- Fiscal policy --- International economic integration --- Prices --- Burkina Faso --- Africa, West --- Monetary unions --- Economic development. --- International finance. --- Economic conditions.. --- Monetary unions. --- Economic conditions.

Choose an application

• Reference Manager
• EndNote
• RefWorks (Direct export to RefWorks)

We apply the fundamentals equilibrium exchange rate (FEER) approach and the Johansen cointegration methodology to investigate the behavior of the real effective exchange rates of the two monetary unions of the CFA franc zone (CEMAC and WAEMU) vis-à-vis their long-run equilibrium paths. For both CEMAC and WAEMU, our results indicate that: (i) the fundamentals account for most of the fluctuation of the real effective exchange rates, with increases in the terms of trade, government consumption, and productivity improvements causing the exchange rate to appreciate, and increases in investment and openness leading to a depreciation; (ii) at end-2005 both the CEMAC and WAEMU real effective exchange rates were broadly in line with their long-run equilibrium values; and (iii) following a shock, reversion to equilibrium is twice as fast in WAEMU than in CEMAC.

Electronic books. -- local. --- Foreign exchange rates -- French franc area. --- Franc, CFA. --- Monetary unions -- Africa, French-speaking. --- Finance --- Business & Economics --- International Finance --- Foreign exchange rates --- Monetary unions --- Common currencies --- Currency areas --- Currency unions --- Optimum currency areas --- CFA franc --- Colonie française d'Afrique franc --- Communateé financière africaine franc --- Communauteé financère d'Afrique franc --- Exchange rates --- Fixed exchange rates --- Flexible exchange rates --- Floating exchange rates --- Fluctuating exchange rates --- Foreign exchange --- Rates of exchange --- Rates --- Currency question --- Money --- French franc area --- Econometrics --- Foreign Exchange --- Macroeconomics --- Time-Series Models --- Dynamic Quantile Regressions --- Dynamic Treatment Effect Models --- Diffusion Processes --- State Space Models --- Forecasting and Other Model Applications --- Open Economy Macroeconomics --- Macroeconomics: Consumption --- Saving --- Wealth --- Currency --- Econometrics & economic statistics --- Real effective exchange rates --- Real exchange rates --- Vector autoregression --- Government consumption --- Econometric analysis --- National accounts --- Consumption --- Economics --- Equatorial Guinea, Republic of