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Convergence et optimalité de la zone ECO : une analyse par un modèle de mélange

TOGBENU, Fo-Kossi Edem and KONDO TOKPOVI, Vénunyé Claude and SAWSSEN, benameur (2021): Convergence et optimalité de la zone ECO : une analyse par un modèle de mélange. Published in:

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Abstract

Our study examines the progress made by ECOWAS member countries in creating a single currency. It therefore analyses what the last few years have taught us about the convergence and optimality of the ECOWAS zone based on a Mixture Model approach to classification. The variables used come from the theory of optimal currency zones and convergence criteria. Two periods were considered: 2000-2013 and 2014-2018. Our results show remarkable progress in the convergence of ECOWAS countries. The results for the 2014-2018 period show very little heterogeneity in the ECOWAS countries compared to the results of the previous period. Indeed, the number of classes resulting from this analysis is nine for the first period and two for the second period. The results therefore suggest that a monetary union is possible for ECOWAS countries except Liberia and Nigeria.

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