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The Common Monetary Area in Southern Africa: Shocks, Adjustment, and Policy Challenges
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Author/Editor: |
Wang, Jian-Ye | Masha, Iyabo | Shirono, Kazuko | Harris, Leighton |
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July 1, 2007 |
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Electronic Access: |
Free Full Text (PDF file size is 506KB)
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Disclaimer: This Working Paper should not be reported as representing the views of the IMF. The views expressed in this Working Paper are those of the author(s) and do not necessarily represent those of the IMF or IMF policy. Working Papers describe research in progress by the author(s) and are published to elicit comments and to further debate.
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Summary: This study assesses the experience of the Common Monetary Area (CMA) based on available empirical evidence over the last two decades. It pays particular attention to member countries' adjustment to economic shocks in recent years and the inter-country linkages, including the spillover effects of policies. The paper draws the main lessons from the CMA experience, identifies key policy challenges, and discusses the issues facing the member countries in their efforts to achieve sustained growth. Implications for further economic integration in a broader regional context are also noted.
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Series: |
Working Paper No. 07/158 |
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Subject(s): |
Monetary unions | Economic policy | Adjustment process | Financial integration | Financial sector |
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Author's keyword(s): |
Exchange Rate
| Monetary Union
| Shocks
| Policy Adjustment
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Published: |
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July 1, 2007 |
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ISBN/ISSN: |
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1934-7073 |
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Format: |
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Paper |
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Stock No: |
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WPIEA2007158 |
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Pages: |
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63 |
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Price: |
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US$18.00 (Academic Rate: US$18.00)
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