Register  |  Login  |  Inquiries  |  Sitemap |  
Advanced Search
Journal of Economic Integration 2019 June;34(2) :214-235.
Fiscal Convergence in Africa: What Role for Regional Economic Communities?

Sampawende J.-A. TAPSOBA1 Daouda SEMBENE1 Vigninou GAMMADIGBE2 Ismaël ISSIFOU 3

1International Monetary Fund (IMF)
2University of Lome
3University of Orleans
Corresponding Author: Vigninou GAMMADIGBE ,Tel: +228 22 25 50 70, Email:
Copyright ©2019 Journal of Economic Integration
The Literature On Optimal Currency Areas (Oca) Has Identified Several Channels For The Ex Post Justification Of The Synchronicity Criterion Of Common Monetary Areas. These Include Trade, Cross-border Investments, Mobility Of Factors, Mobility Of Goods And Services, And Fiscal Convergence Of Member Countries. We Focus On The Later For The African Continent. We Analyze The Role Of African Regional Economic Communities (Recs) In The Convergence Of Fiscal Policies From 1990 To 2015. Our Estimates Show That African Recs Significantly Reduce Fiscal Divergence Between Countries. Furthermore, We Find That Common Monetary Areas Are More Effective In Fostering Fiscal Convergence. This Result Is In Line With The Argument Of Self-validation Of Monetary Arrangements In Africa, Despite Low Levels Of Cycle Synchronization And Trade Intensity.

JEL Classification
E62: Fiscal Policy
F15: Economic Integration
O55: Africa
Keywords: Fiscal convergence | Common monetary areas | Africa
Editorial Office
Center for Economic Integration, Sejong University, 209, Neungdong-Ro, Gwangjin-Gu,
Seoul, 05006, Korea
TEL : +82-2-3408-3338    FAX : +82-2-6935-2492   E-mail :
Browse Articles |  Current Issue |  For Authors and Reviewers |  About
Copyright© by Center for Economic Integration.      Developed in M2PI