Pattillo, Catherine A.; Masson, Paul R. - International Monetary Fund (IMF) - 2001
through prospects of a bailout, or costs diluted through the membership. Thus, a West African monetary union could promote …Could a West African monetary union (either of the non-CFA countries, or all ECOWAS members) be an effective "agency of … restraint" on fiscal policies? We discuss how monetary union could affect fiscal discipline and the arguments for explicit …