Regional integration in West Africa : is there a role for a single currency? / Eswar S. Prasad, Vera Songwe.

"Leaders of the fifteen-member Economic Community of West African States (ECOWAS) had set a goal of achieving a monetary and currency union by late 2020. The COVID pandemic and the lack of macroeconomic convergence among member countries precipitated a postponement of this goal. As this book shows,...

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Bibliographic Details
Main Authors: Prasad, Eswar S., 1965- (Author)
Songwe, Vera (Author)
Language:English
Published: Washington, D.C. : Brookings Institution Press, [2021]
Subjects:
Monetary unions > Africa, West.
Monetary policy > Africa, West.
Monetary policy.
West Africa.
Physical Description:vii, 191 pages : illustrations, charts ; 23 cm
Format: Book
Contents:
  • Introduction and Overview
  • Basic Analytical Considerations
  • Integration through Trade
  • Macroeconomic and Structural Convergence
  • Exchange Rate and Monetary Policy Regimes
  • Illustrative Monetary Policy Rules
  • Institutional Framework, Policy Coordination
  • The Path Forward
  • Appendixes:
  • Comparing and contrasting Asia's and Europe's approaches to economic integration
  • Macroeconomic convergence criteria for existing monetary/currency unions
  • General equilibrium analysis of alternative exchange rate and monetary policy regimes
  • Details on construction of data for analytical exercises.