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Pré-Publication, Document De Travail Année : 2012

Monetary, Financial and Fiscal Stability in the East African Community: Ready for a Monetary Union?

Résumé

We examine prospects for a monetary union in the East African Community (EAC) by developing a stylized model of policymakers' decision problem that allows for uncertain benefits derived from monetary,financial and fiscal stability, and then calibrating the model for the EAC for the period 2003-2010. When policymakers properly allow for uncertainty, none of the countries wants to pursue a monetary union based on either monetary or financial stability grounds, and only Rwanda might favor it on fiscal stability grounds; we argue that robust institutional arrangements assuring substantial improvements in monetary, financial and fiscal stability are needed to compensate.
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Dates et versions

hal-00916699 , version 1 (10-12-2013)

Identifiants

  • HAL Id : hal-00916699 , version 1

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Laetitia Lepetit, Clovis Rugemintwari, Frank Strobel. Monetary, Financial and Fiscal Stability in the East African Community: Ready for a Monetary Union?. 2012. ⟨hal-00916699⟩

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