Working Paper

Economic Integration in West Africa: Does the CFA Make a Difference?

Publication Date
19 Mar 2026
Authors
David Fielding Kalvinder Shields
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Abstract

In this paper we use data from 17 African nations in order to investigate the hypothesis that monetary union– represented in this case by the CFA Franc Zone – augments the extent of macroeconomic integration indeveloping countries. The paper covers a number of dimensions of integration including the volume ofbilateral trade, real exchange rate volatility and the magnitude of cross-country business cycle correlation.

The views expressed in this publication are those of the author(s) and do not necessarily reflect the views of the United Nations University.

Place of Publication
Brugge
Page Count
25
Copyright
United Nations University, Creative commons, 2003
Language
English
Themes
Economic growth Institutions
Keywords
Finance Regionalism Trade Economic policy Governance Science
Institute
UNU-CRIS

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