Endogenous optimal currency areas: The case of the central African economic and monetary community

Carmignani, Fabrizio (2010) Endogenous optimal currency areas: The case of the central African economic and monetary community. Journal of African Economies, 19 1: 25-51. doi:10.1093/jae/ejp016


Author Carmignani, Fabrizio
Title Endogenous optimal currency areas: The case of the central African economic and monetary community
Journal name Journal of African Economies   Check publisher's open access policy
ISSN 1464-3723
Publication date 2010-01
Year available 2009
Sub-type Article (original research)
DOI 10.1093/jae/ejp016
Volume 19
Issue 1
Start page 25
End page 51
Total pages 27
Editor Marcel Fafchamps
John Hoddinott
Michael Bleaney
Place of publication Oxford, U.K.
Publisher Oxford University Press
Collection year 2011
Language eng
Subject 140212 Macroeconomics (incl. Monetary and Fiscal Theory)
140202 Economic Development and Growth
Abstract The Central African Economic and Monetary Community (CAEMC) has been a monetary union for several decades now. According to the hypothesis of endogenous optimal currency areas (OCAs), the degree of business cycle synchronisation across its member states should be significantly higher today than forty years ago. This paper examines cycle synchronisation along three different statistical dimensions and shows that (i) synchronisation has remained low throughout the period 1960–2007, but (ii) it has marginally increased over time. These findings have important implications for the design of the economic integration process in Africa. A chronology of business cycles in CAEMC countries is provided.
Q-Index Code C1
Q-Index Status Confirmed Code
Institutional Status UQ

Document type: Journal Article
Sub-type: Article (original research)
Collections: 2010 Higher Education Research Data Collection
School of Economics Publications
 
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Created: Tue, 09 Mar 2010, 17:45:47 EST by Alys Hohnen on behalf of School of Economics