Tamsir Cham

Currency Union for West Africa

Monetary Integration

• Broschiertes Buch

Produktbeschreibung

This text analyses the benefits and costs of currency unions, focusing on the West African Monetary Zone (WAMZ). Openness, co-movement, and labor mobility are explored for each country using econometric techniques to determine the optimum currency area (OCA) criteria. Analysis of the data reveals that none of the countries under consideration satisfies all of the convergence and OCA criteria. The study also relies on the gravity model to measure the effect of currency union on trade, income, and welfare. The principal findings are that WAMZ will increase trade, income, and welfare. The cost of WAMZ is examined using real exchange rate misalignment. The results reveal that misalignment has increased substantially across the zone. The study concludes that, despite the obvious benefits of the monetary union, these countries face significant challenges before the zone can become a full-fledged monetary union. To increase the effectiveness of WAMZ, each country must demonstrate the political will to implement serious reforms to improve economic fundamentals.

Produktdetails

• Verlag: LAP Lambert Academic Publishing
• Seitenzahl: 200
• Erscheinungstermin: 14. Februar 2011
• Englisch
• Abmessung: 220mm x 150mm x 12mm
• Gewicht: 316g
• ISBN-13: 9783843355773
• ISBN-10: 3843355770
• Artikelnr.: 33072797

Autorenporträt

Dr.Tamsir Cham was born in Albreda, The Gambia. He attended Nusrat High School. He received his PhD in International Economics from Howard University, USA in 2007. He lectured at Howard and Cleveland State University. He worked as an Analyst at Key Bank, USA and Director at the Ministry of Finance, The Gambia. Cham is an Economist at the IMF.