Bitte verwenden Sie diesen Link, um diese Publikation zu zitieren, oder auf sie als Internetquelle zu verweisen: https://hdl.handle.net/10419/269514 
Erscheinungsjahr: 
2018
Schriftenreihe/Nr.: 
FERDI Working Paper No. P233
Verlag: 
Fondation pour les études et recherches sur le développement international (FERDI), Clermont-Ferrand
Zusammenfassung: 
The literature on Optimal Currency Areas (OCA) has identified several channels for the ex post justification of common monetary areas based on the synchronicity criterion. These include trade, cross-border investments, mobility of factors, mobility of goods and services, and fiscal convergence of member countries. We focus on the later for the African continent. We analyze the role of African regional economic communities (RECs) in convergence of fiscal policies from 1990 to 2015. Our estimates show that African RECs reduce significantly fiscal divergence between countries. We further find that common monetary areas are more effective in fostering fiscal convergence. This result is in line with the argument of self-validation of monetary arrangements in Africa, despite low levels of cycle synchronization and trade intensity.
Schlagwörter: 
Fiscal convergence
Common monetary areas
Africa
JEL: 
E62
F15
O55
Dokumentart: 
Working Paper

Datei(en):
Datei
Größe
335.88 kB





Publikationen in EconStor sind urheberrechtlich geschützt.