Title Monetary union in West Africa : who might gain, who might lose, and why? / Xavier Debrun, Paul Masson and Catherine Pattillo

Published [Washington, D.C.] : International Monetary Fund, ©2002

Click on the following:
IMF eLibrary

Copies

Description 1 online resource (35 pages) Series IMF working paper ; WP/02/226 IMF working paper ; WP/02/226. Summary We develop a multicountry model in which governments aim at excessive spending in order to serve the narrow interests of the group in power. This puts pressure on the monetary authorities to extract seigniorage, and thus affects the incentives countries would have to participate in a monetary union. This feature, ignored by the monetary union literature for Europe, is potentially important in Africa. We calibrate the model to data for West Africa and use it to assess proposed ECOWAS monetary unions. We conclude that monetary union with Nigeria would not be in the interests of other ECOWAS countries, unless it were accompanied by effective discipline over Nigeria's fiscal policies Bibliography Includes bibliographical references (pages 33-35) Notes Master and use copy. Digital master created according to Benchmark for Faithful Digital Reproductions of Monographs and Serials, Version 1. Digital Library Federation, December 2002. http://purl.oclc.org/DLF/benchrepro0212 MiAaHDL English digitized 2010 HathiTrust Digital Library committed to preserve pda MiAaHDL Print version record Subject Monetary unions -- Africa, West -- Econometric models Monetary policy -- Africa, West -- Econometric models Fiscal policy -- Africa, West -- Econometric models Expenditures, Public Fiscal policy -- Econometric models Monetary policy -- Econometric models Monetary unions -- Econometric models SUBJECT Africa, West -- Appropriations and expenditures -- Econometric models Subject West Africa Form Electronic book Author Masson, Paul R Pattillo, Catherine A. (Catherine Anne) International Monetary Fund. Research Department. ISBN 1283513684 9781283513685

  Permalink