The 15 West African countries as an optimum currency area and the role of labour mobility in the adjustment to asymmetric shocks
The result's identifiers
Result code in IS VaVaI
<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F62156489%3A43110%2F23%3A43923781" target="_blank" >RIV/62156489:43110/23:43923781 - isvavai.cz</a>
Result on the web
<a href="https://doi.org/10.1016/j.iref.2023.07.087" target="_blank" >https://doi.org/10.1016/j.iref.2023.07.087</a>
DOI - Digital Object Identifier
<a href="http://dx.doi.org/10.1016/j.iref.2023.07.087" target="_blank" >10.1016/j.iref.2023.07.087</a>
Alternative languages
Result language
angličtina
Original language name
The 15 West African countries as an optimum currency area and the role of labour mobility in the adjustment to asymmetric shocks
Original language description
This paper assesses the nature and correlation of shocks in Economic Community of West African States (ECOWAS) countries and investigates the readiness of member countries for the formation of a monetary union. It also assesses the role of labour mobility as an adjustment mechanism to asymmetric shocks. Structural vector autoregression (SVAR) models are used in assessing the nature and correlation of shocks while cointegrated panel autoregressive distributed lag (ARDL) models are employed to examine the role of labour mobility in the adjustment process to asymmetric shocks. The results show that the ECOWAS region is characterised by asymmetric shocks. The study also finds that most countries failed to consistently meet the convergence criteria for the formation of the monetary union and that labour mobility in the region is low to act as an efficient adjustment mechanism to asymmetric shocks. It takes about 2-5 years for member countries to adjust to asymmetric shocks through labour mobility.
Czech name
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Czech description
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Classification
Type
J<sub>imp</sub> - Article in a specialist periodical, which is included in the Web of Science database
CEP classification
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OECD FORD branch
50202 - Applied Economics, Econometrics
Result continuities
Project
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Continuities
I - Institucionalni podpora na dlouhodoby koncepcni rozvoj vyzkumne organizace
Others
Publication year
2023
Confidentiality
S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů
Data specific for result type
Name of the periodical
International Review of Economics & Finance
ISSN
1059-0560
e-ISSN
1873-8036
Volume of the periodical
88
Issue of the periodical within the volume
November
Country of publishing house
US - UNITED STATES
Number of pages
19
Pages from-to
1204-1222
UT code for WoS article
001052227000001
EID of the result in the Scopus database
2-s2.0-85166059956