A Fast-Track East African Community Monetary Union? Convergence Evidence from a Cointegration Analysis.

A Fast-Track East African Community Monetary Union? Convergence Evidence from A Cointegration Analysis

European Monetary Union: A Cointegration Analysis

This paper employs systems-based cointegration techniques developed by Johansen (1988, 1995) to determine which European Union countries would form a successful Economic and Monetary Union (EMU), based on long-run behavior of the nominal convergence criteria laid down in the Maastricht treaty. The original 12 European Union countries are analyzed together. Nominal exchange rates, real exchange ...

A comparative analysis of IT outsourcing readiness in the East African community

Developing countries are increasingly relying on Information and Communication Technology (ICTs) for their socio-economic development. Many countries have achieved faster gross domestic product (GDP) growth through information technology (IT) outsourcing, which is now largely recognized as a strategic management practice that can provide a competitive advantage in business. The East African Com...

Real Convergence in a Monetary Union

Since Krugman’s “Geography and Trade” it has become common knowledge among economists that the spatial consequences of “integration”, that is to say of reduced transaction costs, may be the building up of agglomerations with high productivity levels and external economies of scale (the centre) whereas the periphery is being deprived by out-migration. The authors of a recent study published by t...

How Does Monetary Policy Affect the Poor? Evidence from the West African Economic and Monetary Union

The West African Economic and Monetary Union (UEMOA) has a history of monetary stability and low inflation. Nevertheless, there is substantial variation in relative prices within some UEMOA countries, in particular in the price of food relative to other elements of the retail price index (IHPC). Using monthly time-series data for cities within the region, we analyze the impact of changes in mon...