Part 1. Introduction -- Chapter 1. Introduction and Background: A historical perspective of the role of financial institutions in Africa’s development -- Part 2. Country Monetary Policy Issues -- Chapter 2. Monetary Policy and Price Stability in Ghana's Fourth Republic: Have the Dues Been...

The study investigates the effect of changes in the exchange rate on output growth and inflation in the WAMZ economies. It formulates an open-economy general equilibrium model which highlights the interrelationships among real GDP growth, inflation, exchange rate depreciation/ appreciation and...

This study provides a detailed investigation of the time-frequency and frequency-domain analysis of the interconnectedness of country-level macroeconomic variables. Hence, the wavelet techniques-vector wavelet and wavelet multiple-employed with TVP-VAR are utilised as a robustness check. The...

Anecdotal evidence shows that monetary expansion (excess liquidity) induces inflation in the West African Monetary Zone (Zone). Uncertainty about the nature of inflation persistence often undermines regional convergence due to the asymmetric responses from the monetary authorities. It is against...

This paper investigates the existence or otherwise of Fiscal dominance (non-Ricardian) regime in the West African Monetary Zone (WAMZ) from 1990 through 2017 using a Structural Vector Auto Regressive (SVAR) approach. Following Canzoneri, Cumby and Diba (2000), the study made use of public...

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...

The outbreak of COVID-19 pandemic presents an unprecedented and synchronized disruption of the economies of the West African Monetary Zone (WAMZ). This study uses the Conditional Fan Chart based on Vector Error Correction Model (VECM) to forecast the effects of the pandemic on three key...