Achieving fiscal convergence between countries of a monetary union helps in the design and implementation of policies to strengthen macroeconomic convergence, which mitigates the contagion effects of macroeconomic instability and ensures the long-term viability of the proposed union. This paper...

The paper explores the interaction between the proposed monetary union for ECOWAS and structural reforms of fiscal policy. The effects depend to a large extent on the degree of similarity of member countries. In a monetary union of similar countries, member states run a more distortive fiscal...

Economy integration among countries of the world is seen as a key to drive economic growth and development through favourable policies among members. The study examines the impact of a single currency on the economy of West Africa States. Findings show that gross domestic product growth rate,...

This study estimates the rate and distance to convergence of WAMZ Member States and provides a comparative analysis of nominal and real convergence to evaluate WAMZ's preparedness for monetary integration. We employ monthly data on the consumer price index and nominal exchange rate from January...

Within the economic profession, it is a widely held view that the fiscal criteria of the Maastricht treaty are arbitrary numbers without economic foundation. Much of this criticism seems to overlook an important aspect - the strategic dimension of the criteria. This paper focuses on one...