File Name: west african economic and monetary union .zip
- Dynamics of Integration and Economic Growth of the West African Economic and Monetary Union (WAEMU)
- Monetary policy and economic performance of West African Monetary Zone Countries
- International Journal of Economics and Financial Issues
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There is no doubt that economic integration in the sub-region would be beneficial to member countries. However, the conditions precedent suggest the need to consider other factors outside the convergence criteria for the West African Monetary Zone WAMZ region and the link between the Franco-phone countries with France. Using stylized facts and preliminary panel results, there are still unsettled important issues as the region moves towards economic integration.
Dynamics of Integration and Economic Growth of the West African Economic and Monetary Union (WAEMU)
Access options available:. However, economic growth does not necessarily follow the observed increase in public investment. Even within WAEMU region, countries that have higher investment rate do not have the highest growth rate. Moreover, a comparative analysis of the relationship between investment rate and economic growth rate show that WAEMU countries are lagging some Africans countries with similar economic structure reference countries.
The objective of this study is twofold. First, it aims to analyze, comparatively, the efficiency of investment in WEAMU countries and in reference countries.
This results suggest that investments are relatively more efficient in the reference countries than in WAEMU countries. Botswana, Ethiopia, Mozambique and Rwanda are the countries where the return on investment is the highest. Second, the study seeks to understand the determinants of investment efficiency in a selected group of sub-Saharan African countries by analyzing the causal relationships that can exist between the ICOR and some macroeconomic and institutional variables, including GDP per capita, the real interest rate, the share of exports in GDP and corruption.
In that regard, an empirical analysis using Dynamic Ordinary Least Square DOLS estimation procedure has found GDP per capita, real interest rate, human capital, the ratio of export to GDP and corruption to be the most important determinants of investment efficiency. The overall results of this article shed some light on how important public investment project management is to their efficiency. In the light of empirical results, the following policy recommendations could be made to improve the efficiency of investment in the WAEMU countries.
First, investment should be made on growth promoting sectors or on sectors that can significantly improve the overall productivity of the economy. Second, policy makers in WAEMU Countries should improve transparency in awarding and the execution of public infrastructure contracts.
Finally, WAEMU countries should step up their efforts to quantitatively and qualitatively improve human capital in the region. Project MUSE promotes the creation and dissemination of essential humanities and social science resources through collaboration with libraries, publishers, and scholars worldwide.
Project MUSE Mission Project MUSE promotes the creation and dissemination of essential humanities and social science resources through collaboration with libraries, publishers, and scholars worldwide.
Monetary policy and economic performance of West African Monetary Zone Countries
We exploit a unique data from a unified labour force household survey which covers natives and migrants in the seven economic capitals of the region. We estimate the counterfactual wage distributions of UEMOA migrants in absence of migration to evaluate the effect of regional migration. We find that regional migration increases the average wage by 1. The decrease in inequality in the UEMOA region is driven by a reduction in inequality between countries, while the migration effect on within-inequality differs across countries and remains overall small. With general equilibrium effects, the effect on the average wage is smaller because UEMOA migrants tend to be negatively- intermediately selected both at origin and destination and depress the average wage of natives in their destination and lead to a slight increase of the average wage among natives in their sending countries, with the former effect dominating.
This study examined the monetary and macroeconomic stability perspective for entering into monetary union, using data available on WAMZ countries. It tests the hypothesis that independent monetary and exchange rate policies have been relatively ineffective in influencing domestic activities especially GDP and inflation , and that when they do, they are counter productive. Usiing econometric methods, regression result show that, erstwhile domestic monetary policy, as captured by money supply and credit to government hurt real domestic output of these countries. Indeed, rather than promote growth, it was a source of stagnation. It also confirms that there appear to be a two quarters lag in monetary policy transmission effect with regard to real sector output.
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International Journal of Economics and Financial Issues
The debate has been reignited in recent months by both defenders and opponents of the CFA franc, about its benefits or the lack thereof. The objective of this paper is to join the conversation in an objective, and quantifiable way, by investigating the optimality of the currency area. I also investigated endogeneity within the Union, by dividing the data into two samples, one from to , a period that predates the WAEMU, and one from to The results show more synchronization of business cycles during the second period than during the first. I examined the role of trade in the near perfect synchronization of business cycles in the WAEMU, and found it to be the driving force behind the symmetry.
The union was established on 28 May , with the signing of the Treaty of Lagos , with its stated mission to promote economic integration across the region. A revised version of the treaty was agreed and signed on 24 July in Cotonou. The ECOWAS also serves as a peacekeeping force in the region, with member states occasionally sending joint military forces to intervene in the bloc's member countries at times of political instability and unrest.
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Нет, больше. В этот момент кровать громко заскрипела: клиент Росио попытался переменить позу. Беккер повернулся к нему и заговорил на беглом немецком: - Noch etwas. Что-нибудь .
Она подошла к огромному круглому порталу и начала отчаянно нажимать кнопки. Дверь не сдвинулась с места. Она пробовала снова и снова, но массивная плита никак не реагировала.
Сьюзан стало абсолютно очевидно, что план Танкадо ужасным образом рухнул. Он не собирался умирать. Он рассчитывал, сидя в испанском баре, услышать по Си-эн-эн пресс-конференцию об американском сверхсекретном компьютере, способном взломать любые шифры. После этого он позвонил бы Стратмору, считал пароль с кольца на своем пальце и в последнюю минуту спас главный банк данных АНБ.
Поскольку числовая строка бесконечна, всегда можно заглянуть дальше и найти еще одно простое число. Между 0 и 1 000 000 более 70 000 вариантов. Все зависит оттого, что выбрал Танкадо. Чем больше это число, тем труднее его найти.
Голос Стратмора в телефонной трубке звучал еще настойчивее, чем утром. Новые инструкции не оставляли места сомнениям: необходимо во что бы то ни стало найти канадца. Ни перед чем не останавливаться, только бы заполучить кольцо.