This paper attempts to examine the challenges of monetary integration in the West African Monetary Zone (WAMZ) during the period 2001-2017, within the framework of the Economic Community of West African States (ECOWAS) Monetary Cooperation Programme (EMCP). The paper recounts the evolution of...

This paper addresses the question of macroeconomic integration in the Asian Pacific region. Economically, the analysis is based on the notions of stochastic long-run convergence and business cycle coherence. The econometric procedure consists of tests for cointegration, the examination of vector...

The first Asia-Europe Meeting (ASEM) Summit in 1996 has provided the principal multilateral platform for interregional cooperation between the European and Asian countries. This book examines the equity market integration among 49 ASEM members both in EU and Asia, and to investigate whether such...

Bilateral and regional cooperation initiatives in Asia have been growing in importance over the last five years.These accords span the real and financial sectors; rather than following the more typical pattern of "trade first,money later", recent policy initiatives involve the simultaneous...

Purpose-This paper makes an analysis of trade in the WAMZ as well as the WAMZ's trade with other countries in West Africa, Europe and Asia based on the Optimal Currency Area (OCA) theory. This theory first proposed by Mundell (1961) as a basis for evaluating whether or not an area constitutes an...

In this paper we use data from 17 African nations in order to investigate the hypothesis that monetary union - represented in this case by the CFA Franc Zone - augments the extent of macroeconomic integration. The paper covers a number of dimensions of integration including the volume of...

Nach den Finanzkrisen der 1990er Jahre haben sich in Asien und Lateinamerika Formen eines monetären Regionalismus (mR) herausgebildet, die das gemeinsame Ziel verfolgen, die eigene Region vor zukünftigen Finanzkrisen zu schützen. Dabei fallen wesentliche Unterschiede im Vorankommen der beiden...

Nach den Finanzkrisen der 1990er Jahre haben sich in Asien und Lateinamerika Formen eines monetären Regionalismus (mR) herausgebildet, die das gemeinsame Ziel verfolgen, die eigene Region vor zukünftigen Finanzkrisen zu schützen. Dabei fallen wesentliche Unterschiede im Vorankommen der beiden...

The paper examines the implications of lower trade barriers for sectoral diversification and macroeconomic stability in developing economies with a large primary goods sector. It shows that lower trade barriers can have ambiguous effects on macroeconomic stability. It shows also that...

The paper develops a simple three-sector model of a developing country with nominal wage rigidity, in which one sector is thought of as the primary sector and the other two are sectors in which the country can diversify. The paper then analyzes the relationship between the market structure of...