Monetary integration in West Africa

Akinrinsola, Iwa
September 2003
Journal of International Banking Regulation;Sep2003, Vol. 5 Issue 1, p21
Academic Journal
This paper assesses the monetary union proposed by anglophone West African states. It considers whether the basic components for an effective monetary union exist by assessing previous economic integration efforts in the subregion. Such efforts include the establishment of a common market. It assesses the failure of the attainment of these efforts, which is the result of inadequate legal and institutional infrastructures at both regional and domestic levels. It suggests that a sustainable monetary union can only be achieved against the backdrop of such infrastructures. It focuses, in particular, on the roles of these infrastructures at the regional level and assesses the effect of their operation on a monetary union goal.


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