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Eco-currency: Proposition of a monetary policy design for a unitary currency program of a frailty economic zone.

Tweneboah Senzu, Emmanuel (2021): Eco-currency: Proposition of a monetary policy design for a unitary currency program of a frailty economic zone. Published in: Eliva Publication No. Book (Chapter 8); pp.162-179 (5 January 2022): pp. 1-24.

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Abstract

Recognizing the frailty nature of the Economic Zone of West African market, and its associated financial system, has contributed to a spirited pessimistic defense by many scholars against the acceptance and uphold to the idea of a single currency union for members [State] to accept the ‘Eco’ as the proposed currency brand label. The defense argument is based on the reason of lack of clarity to the supposed model for the proposed ECOWAS Central Bank, to administer it currency management that addresses' member countries economic welfare in equal expectations, and guarantees for a competitive trade advantage. This very paper, thereby addresses the problem by proposing a stylish monetary policy theory to act as a framework for the currency management, having into it a model application ingrained in the ‘Natural Rate of Interest’ as a policy indicator for the ‘Eco-currency’ management within the Economic Zone of West Africa.

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