Review Monetary Union in West Africa: Who Might Gain, Who Might Lose, and Why?

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Monetary Union in West Africa: Who Might Gain, Who Might Lose, and Why?
By:Xavier Debrun,Paul R. Masson,Catherine A. Pattillo
Published on 2002-12-01 by International Monetary Fund

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.

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Book ID of Monetary Union in West Africa: Who Might Gain, Who Might Lose, and Why?'s Books is KPUKMaYQ7WcC, Book which was written byXavier Debrun,Paul R. Masson,Catherine A. Pattillohave ETAG "KFCJHeOWlaY"

Book which was published by International Monetary Fund since 2002-12-01 have ISBNs, ISBN 13 Code is and ISBN 10 Code is

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Book which have "35 Pages" is Printed at BOOK under CategoryAfrica, West

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