This book seeks to explain why governments contemplate regional monetary integration and why some country groups are more likely than others to exercise that option. It also explains why some country groups may be more successful than others, and the limited relevance of the European experience...

This paper examines whether the BCEAO has made use of the various policy instruments at its disposal for steering credit in the individual CFA zone member countries to complement interest rate policy at the zone level. We estimate whether private sector credit has responded systematically to...