Monetary integration and economic convergence.
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Monetary integration and economic convergence. by Anne Sibert

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Published by Centre for Economic Policy Research in London .
Written in English

Book details:

Edition Notes

SeriesDiscussion paper series / Centre for Economic Policy Research -- No.1561
ContributionsCentre for Economic Policy Research.
ID Numbers
Open LibraryOL19353587M

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This book presents a number of key studies pertaining to the most pressing challenges of economic regional integration in West Africa. The issues of monetary coordination, foreign exchange volatility, taxation, savings and macroeconomic convergence are investigated from a regional perspective. Recent research in contract theory views ownership as a substitute for complete contracts. In this paper this approach is applied to monetary integration. Countries face a coordination problem when conducting monetary policy: negative spillovers ensure uncoordinated policy generates too high inflation. Ex ante, policy-makers can undertake politically costly economic reform. Monetary and Financial Integration in West Africa details the progress, challenges faced, and potential of the project intended to create a West African Monetary Zone (WAMZ) between Gambia, Ghana, Guinea, Nigeria and Sierra Leone. Given the trend towards regionalization of economic ties across the world, especially after the successful launch of the euro, a detailed Format: Hardcover. The Economic and Monetary Union (EMU) is an umbrella term for the group of policies aimed at converging the economies of member states of the European Union at three stages. The policies cover the 19 eurozone states, as well as non-euro European Union states.. Each stage of the EMU consists of progressively closer economic integration. Only once a state participates in .

To benefit from a monetary union, convergence is needed to facilitate closer economic integration through trade, investment, and factor mobility. Convergence is also critical to foster strong economic performance to support the eventual adoption of a single currency. Get this from a library! Economic convergence and monetary union in Europe. [Ray Barrell; Association for the Monetary Union of Europe.; National Institute of Economic and Social Research.;] -- "Progress toward monetary union in Europe has been accelerating, and the Maastricht Summit in December set out the preconditions for a successful union. The EU has assumed that monetary integration is a precondition of deep economic integration and it has also assumed that the criteria to be adopted to . This book provides a thorough knowledge of the nature of the convergence criteria which states must meet in order to qualify for accession to the future Economic and Monetary Union of Europe and comprehensive coverage of both the economic and political rationale of the criteria within the framework of an international political economy approach.

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