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Source CiteSeerX
Content type Text
File Format PDF
Subject Domain (in DDC) Computer science, information & general works ♦ Data processing & computer science
Abstract Prerequisites for progress towards a single currency in COMESA Lessons from theory and experience According to experience in other regions, there are gains to be had from cross-border economic policy coordination where national policies create externalities for neighbouring countries. However, policy unions are difficult to maintain, particularly if countries which are members of the union respond differently to the same external shocks. Where there are long-term relationships that are mutually desirable then some policy coordination may be sustained, but the wider the range of policy variables tied by international treaties, the smaller the likelihood of compliance. At the very least, the experience of other developing regions suggests (i) that the presence of a larger comparatively stable anchor economy increases the chances of success and (ii) that regional integration alone does not contribute significantly to regional growth and development, suggesting that regionalism should be part of an overarching strategy of global integration. Monetary union is optimal amongst economies that: show a marked degree of real
Educational Role Student ♦ Teacher
Age Range above 22 year
Educational Use Research
Education Level UG and PG ♦ Career/Technical Study
Publisher Date 2001-01-01