Drawing on the recent literature and experience on monetary integration in Europe, the paper examines the rationale for establishing regional currency unions in Western Africa. Despite dramatic economic, political and historical differences between the two regions, the analysis indicates that...

This paper examines the consequences of heightened capital mobility and of the integration of developing economies in increasingly globalized markets for the exchange rate regimes of the industrial, developing, and transition economies. It builds upon previous studies by IMF staff on various...