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AN EVALUATION OF MONETARY INTEGRATION IN THE ECONOMIC COMMUNITY OF WEST-AFRICAN STATES (ECOWAS)
ABSTRACT
Currency convertibility and monetary integration activities of the Economic Community
of West African States (ECOWAS) are directed at addressing the problems of multiple
currencies and exchange rate changes that are perceived as stumbling blocks to regional
integration. A real exchange rate (RER) variability model shows that ECOWAS is closer
to a monetary union now than before. As expected, the implementation of structural
adjustment programmes (SAPs) by various governments in the subregion has brought
about a reasonable level of convergence. However, wide differences still exist between
RER shocks facing CFA zone and non-CFA zone West African countries. Further
convergence in economic policy and alternatives to dependence on revenues from taxes
on international transactions are required for a stable region-wide monetary union in
West Africa.
TABLE OF CONTENT
Title page- – – – – – – – – i
Approval page – – – – – – – -ii
Dedication – – – – – – – – -iii
Acknowledgement – – – – – – – -iv
Abstract – – – – – – – – – -v
Table of content – – – – – – – -vi
CHAPTER ONE
INTRODUCTION – – – – – – – -1
1.0 Background of the study – – – – -1
1.1 Statement of the problem – – – – -5
1.2 Purpose of the study – – – – – -6
1.3 Significance of the study – – – – -8
1.4 Research questions – – – – – -9
1.5 Scope of the study – – – – – – -10
CHAPTER TWO
LITERATURE REVIEW – – – – – – -11
CHAPTER THREE
Research methodology – – – – – – -39
Design of study – – – – – – – -40
CHAPTER FOUR
Presentation, analysis and interpretation of data – -48
CHAPTER FIVE
Summary of findings – – – – – – -60
Conclusion – – – – – – – – -61
Recommendations – – – – – – – -62
Suggestions for further research – – – – -64
References – – – – – – – – -65
Appendix I – – – – — – – – -68
Questionnaire. – – – – – – – -69
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