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

Abstract : 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.
Type de document :
Article dans une revue
Liste complète des métadonnées

https://hal-unilim.archives-ouvertes.fr/hal-01134835
Contributeur : Thierno Barry <>
Soumis le : mardi 24 mars 2015 - 13:09:14
Dernière modification le : mercredi 28 février 2018 - 17:06:02

Identifiants

  • HAL Id : hal-01134835, version 1

Collections

Citation

Laetitia Lepetit, Clovis Rugemintwari, Frank Strobel. Monetary, Financial and Fiscal Stability in the East African Community: Ready for a Monetary Union?. The World Economy, blackwell publishing, 2015, 38 (8), pp.1179-1204. ⟨hal-01134835⟩

Partager

Métriques

Consultations de la notice

704