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标题：Do Currency Unions Deliver More Economic Integration than Fixed Exchange Rates? Evidence from the CFA and the ECCU
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作者：David Fielding ; Kalvinder Shields
期刊名称：Discussion Papers / University of Leicester, Department of Economics
出版年度：2003
卷号：2003
出版社：Leicester
摘要：In this paper we develop a model to identify determinants of macroeconomic integration in the African CFA Franc Zone and in Dollar-pegging Caribbean countries (including members of the East Caribbean Currency Union). These two groups of countries each comprise states using several different local currencies: on the one hand the BCEAO-CFA Franc and the BEAC-CFA Franc (both pegged to the Euro), on the other the ECCU Dollar and other national Dollar-pegged currencies. The purpose of the analysis is to distinguish the effect of monetary union on macroeconomic integration from the effect of pegging to a common OECD currency