This paper seeks to elucidate the debate over currency union in Africa. The paper examines whether empirical … comovements of prices and outputs, I argue that the emergence of large-scale currency blocs in Africa will follow a gradual path … which emerges seems to suggest three blocs: one in West Africa, a second around South Africa, and a third in Central Africa …

actively pursued in Africa. The benefits of monetary union come from a more credible monetary policy, while the costs derive …

the gravity model and focusing on two samples, the world and Africa. Our empirical findings suggest that, in principle …, membership in a currency union should benefit Africa as much as it does the rest of the world. In addition, we find evidence from …