Pattillo, Catherine A.; Masson, Paul R. - International Monetary Fund (IMF) - 2001
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 … fiscal restraints considered in the European Monetary Union literature, and their applicability to West Africa. The empirical …