Last edited by Zugar
Monday, August 10, 2020 | History

4 edition of Monetary integration and theory of optimum currency areas in Africa found in the catalog.

Monetary integration and theory of optimum currency areas in Africa

by Samuel Nana-Sinkam

  • 239 Want to read
  • 21 Currently reading

Published by Mouton in [2514 GC] The Hague, [Noordeinde 41] .
Written in

    Places:
  • Africa,
  • Africa.
    • Subjects:
    • Money -- Africa.,
    • Monetary unions.,
    • Africa -- Economic integration.

    • Edition Notes

      Statementby Samuel C. Nana-Sinkam.
      SeriesNew Babylon, studies in the social sciences ; 31
      Classifications
      LC ClassificationsHG1325 .N36
      The Physical Object
      Paginationxi, 316 p. ;
      Number of Pages316
      ID Numbers
      Open LibraryOL4481060M
      ISBN 109027976651
      LC Control Number79309409

      A Theory of Optimum Currency Areas It is patently obvious that periodic balance-of-payments crises will remain an integral feature of the international economic system as long as fixed ex-change rates and rigid wage and price levels prevent the terms of trade from fulfilling a natural role in the adjustment process. It is, however, far easier to. Financial integration in Africa: implications for monetary policy and financial stability Benedicte Vibe Christensen1 1. Introduction The effectiveness of monetary policy in Africa has long been constrained by the lack of financial depth. Africa is a diverse Cited by: 5.

      several influence factors on integration quali-ty of monetary areas will be explained and examined it the face of the Eurozone. This part of the paper will be based on Paul A Theory of Optimum Currency Areas, p. 3 Mundell: A Theory of Optimum Currency Areas, p. The Eurozone: An Optimal Currency Area?. VIEW ON MONETARY INTEGRATION IN THE EURO ZONE IN TERMS OF THE THEORY OF OPTIMAL CURRENCY AREAS UDC: (EU) Abstract Over the past years, there was a consensus that the euro is the best way to achieve medium-term prosperity of the European countries since joining the Economic and.

        Concept of Optimum currency areas, European Monetary System Vidya-mitra. Loading Unsubscribe from Vidya-mitra? Cancel Unsubscribe. Working Subscribe Subscribed Unsubscribe K. Abstract. I n a pioneering article published in , Professor Mundell endeavoured to lay the foundations of a theory of optimum currency areas; a few important contributions have been made subsequently, notably by Professors McKinnon and Kenen. Mundell warned the reader not to regard the exercise as purely academic: ‘Certain parts of the world are undergoing processes Author: Giovanni Magnifico.


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Monetary integration and theory of optimum currency areas in Africa by Samuel Nana-Sinkam Download PDF EPUB FB2

Get this from a library. Monetary integration and theory of optimum currency areas in Africa. [Samuel Nana-Sinkam]. Monetary integration and theory of optimum currency areas in Africa.

[ GC] The Hague [Noordeinde 41]: Mouton, [] (OCoLC) Material Type: Thesis/dissertation: Document Type: Book: All Authors / Contributors: Samuel Nana-Sinkam. Monetary Union (EMU) and the optimum currency area (OCA) theory.

Various advancements in economic theory and econometrics have made it possible to progress from the “early OCA theory” to a “new OCA theory”.

The balance of judgements has shifted in favour of monetary union: it is deemed to generate fewer costs and there is more emphasis onCited by:   Optimum Currency Area Theory: A currency thoery based on geographical area that adopts a fixed exchange rate regime or a single currency within its boundaries.

Optimum currency area theory can. This paper aims at providing an eclectic analysis of the theory of optimum currency areas (OCA).

Although the basic tenets of the theory were anticipated during the lates and the s, the. institutional arrangement available for monetary integration. This is followed by the presentation of the traditional criteria for optimum currency areas and some early extensions found in the literature.

The next part analyzes two important theoretical and empirical modifications of the traditional theory that have arisen. The OCA theory serves as an approach for thinking about monetary integration and provides an explanation for the recent monetary integration processes in Europe.

This approach can help us to identify and possibly to estimate costs and benefits of adopting a common currency. Since theory has low operational precision and OCA criteria are. Optimal Currency Area: The geographic area in which a single currency would create the greatest economic benefit.

While traditionally each country has maintained its own separate, national. regional integration is a useful way of increasing their economic clout and bargaining power on the global scene. Key words:Monetary integration; economic integration; regionalism; currency union; optimum currency areas; exchange rate arrangements; convergence criteria; payment system; informal cross-border trade; East Africa.

optimal currency areas 1 introduction 5 historical background 6 2 literature review 10 objectives 10 theoretical beginnings of optimal currency area theory 11 summary of traditional oca theory 17 new oca theory 19 the monetarist critique of the phillips curve 19 credibility, time consistency and policy rules 20 the role of the exchange rate.

The Optimum Currency Area Approach to European Monetary Integration: Framework of Debate or Dead End. European monetary integration led to a renaissance of the theory of optimum currency areas (OCA) culminating in the award of the Nobel Prize to Robert Mundell. There has been a flood of research on the asymmetry of shocks in Europe.

Downloadable. African countries involved in monetary integration projects have been advised to peg their currencies against an external anchor before the definite fixing of exchange rates.

In this study we estimate optimum currency area indices to determine, between four alternatives, which international currency would be the most suitable anchor for COMESA members and for a set.

Discussion on economic and monetary integration is essentially predicated on the Optimum Currency Area (OCA). The OCA is a useful starting point for any discussion on regional integration. It addresses the central question of whether a monetary union should be pursued.

Mundell () defines the optimum currency. Monetary Integration and Theory of Optimum Currency Areas in Africa (New Babylon: Studies in the Social Sciences) [Nana-Sinkam, Samuel C.] on *FREE* shipping on qualifying offers.

Monetary Integration and Theory of Optimum Currency Areas in Africa (New Babylon: Studies in the Social Sciences)Author: Samuel C. Nana-Sinkam. In economics, an optimum currency area (OCA), also known as an optimal currency region (OCR), is a geographical region in which it would maximize economic efficiency to have the entire region share a single currency.

The underlying theory describes the optimal characteristics for the merger of currencies or the creation of a new theory is used often to argue. Horváth, Július & Grabowski, Richard, "Prospects of African Integration in Light of the Theory of Optimum Currency Areas," Journal of Economic Integration, Center for Economic Integration, Sejong University, vol.

12, pages Carolyn Jenkins & Lynne Thomas, "Is Southern Africa ready for regional monetary integration. South-south monetary integration 2 The blind spot of optimum currency area theory approaches Numerous contributions have been made to the debate on OCA theory that concentrate on empirically examining the criteria for regional monetary integration set up by the first generation of literature (Mundell, ; McKinnon, ; Kenen, ).

THE OPTIMUM CURRENCY AREA CRITERIA 1 R. Mundell, A Theory of Optimal Currency Areas, „The American Economic Review”Vol. 53, Spt ember, s. integration forces monetary integration out of the EU member countries and as well as certainFile Size: KB. However, according to the theory of optimum currency, Guillaume and Stasavage () suggest that African countries should not join a monetary union for two reasons.

First, the transaction cost benefits of removing exchange rate volatility within an area are likely to be small for countries that trade relatively little with one another. Second, the. In the s, the theory of Optimum Currency Areas (OCAs) emerged as a by-product of the theoretical debate between fixed and flexible exchange rates.

The OCAs approach singles out an economic characteristic to define an economic domain where there is exchange rate fixity erga intra, while there is exchange rate flexibility erga by: 1. Endogenous optimal currency areas: The case of the Central African Economic and Monetary Community Fabrizio Carmignani ([email protected]) United Nations Economic Commission for Africa Abstract The Central African Economic and Monetary Community (CAEMC) has been a monetary union for several decades now.MOnetary Integration and Theory of Optimimum Currency Areas inAfrica [S C Nana-sinkam] on *FREE* shipping on qualifying : S C Nana-sinkam.Robert Mundell's pioneering theory of optimum currency areas is revisited, with experts from the IMF, the BIS, the European Investment Bank, academia, European think tanks, and the Bank of Israel looking at its current practical applications, especially in the context of the forthcoming European Economic and Monetary Union (EMU).

Robert Mundell himself offers an update to .