In the first critical assessment of convergence in financial development dynamics in Africa, we find overwhelming … Africa), income-levels(low, middle, lower-middle and upper-middle), legal-origins(English common-law and French civil …-law) and religious dominations(Christianity and Islam). We examine convergence in financial intermediary dynamics of depth …

Africa), income-levels (low, middle, lower-middle and upper-middle), legal-origins (English common-law and French civil …-law) and religious dominations (Christianity and Islam). We examine convergence in financial intermediary dynamics of depth … size respectively. We also provide the speeds of convergence and time necessary to achieve a full (100%) convergence …

policy convergence within the proposed WAM and EAM zones. The introduction of common currencies in West and East Africa is … facing stiff challenges in the timing of monetary convergence, the imperative of bankers to apply common modeling and … at macro and micro levels. Findings – Findings suggest overwhelming lack of convergence: (1) initial conditions for …

Africa is facing stiff challenges in the timing of monetary convergence, the imperative of central bankers to apply common … fiscal policy convergence within the proposed WAM and EAM zones. The introduction of common currencies in West and East … panel GMM estimation with data from different non-overlapping intervals is employed. The implied rate of convergence and the …

and East Africa is facing stiff challenges in the timing of monetary convergence, the imperative of bankers to apply … monetary policy convergence within the proposed WAM and EAM zones. In the analysis, monetary policy targets inflation and … growth at macro and micro levels. Findings suggest overwhelming lack of convergence; an indication that candidate countries …

disequilibria within the Economic and Monetary Community of Central Africa (CEMAC), West African Economic and Monetary Union (UEMOA …) and Financial Community of Africa (CFA) zones. Design/methodology/approach – In the assessments, monetary policy targets … in terms of GDP growth. The author also provides the speed of convergence and time required to achieve a 100 percent …

Africa is facing stiff challenges in the timing of monetary convergence, the imperative of central bankers to apply common … fiscal policy convergence within the proposed WAM and EAM zones. The introduction of common currencies in West and East … panel GMM estimation with data from different non-overlapping intervals is employed. The implied rate of convergence and the …

. We also provide the speed of convergence and time required to achieve a 100% convergence. Findings – But for financial … intermediary size within the CFA zone, findings for the most part support only unconditional convergence. There is no form of … convergence within the CEMAC zone. Practical implications – The broad insignificance of conditional convergence results have …

convergence and time required to achieve a 100% convergence. But for financial intermediary size within the CFA zone, findings for … the most part support only unconditional convergence. There is no form of convergence within the CEMAC zone. The broad … insignificance of conditional convergence results have substantial policy implications. Monetary and real policies which are often …

; the interest rate policy pursued by the central bank should aim for a constant real rate of interest with that interest … central bank independence; and the key policy objective of the central bank should be financial stability. …