文章基本信息

标题：Dynamic Macroeconomic Convergence in the West Africa Monetary Zone (WAMZ)
本地全文：下载
作者：Anokye M. Adam ; Daniel Agyapong ; Emmanuel Numapau Gyamfi 等
期刊名称：International Business and Management
印刷版ISSN：1923-841X
电子版ISSN：1923-8428
出版年度：2010
卷号：1
期号：1
页码：31-40
DOI：10.3968/j.ibm.1923842820100101.006
语种：English
出版社：Canadian Research & Development Center of Sciences and Cultures
摘要：The paper empirically investigates the issue of macroeconomic convergence in the West Africa Monetary Zone (WAMZ) using monthly data from 1990:01 to 2010:05 as part of the ongoing discussion on the single currency for West Africa, The ECO initiative. The study specifically examines exchange and inflation rates convergence and finds no evidence of convergence in inflation in the WAMZ and little support for convergence in exchange rate. The findings imply that WAMZ is not ready for a single currency and that the decision to postpone the introduction of the Eco to 2015 is in a right direction. The possibility of introducing the ECO requires a change of macroeconomic policy direction of member countries due to evidence of divergence in inflation across the region and higher distance to convergence. Key words: macroeconomic convergence; West Africa Monetary Zone