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英文文献：An Index of African Monetary Integration (IAMI)-非洲货币一体化指数(IAMI)
英文文献作者：Samba Diop,Simplice A. Asongu
英文文献摘要：
This study improves the African Regional Integration Index (ARII) proposed by the African Union, the African Development Bank and the United Nations Economic Commission for Africa by providing a theoretical framework and addressing shortcomings related to weighting and aggregation of the indicator. This paper measures monetary integration in the eight African Regional Economic Communities (RECs) by constructing an Index of African Monetary Integration (IAMI). It proposes an Optimal Currency Area as theoretical framework and uses a panel approach to appreciate the dynamics of the index over different periods of time. The findings show that: (i) inflation and finance (trade and mobility) present the highest (lowest) score while ECOWAS is (EAC and IGAD are) the highest (least) performing. (ii) Surprisingly, in most RECs, the highest contributors to wealth creation are not the top performers in regional monetary integration. (iii) The RECs in Africa are characterized by a stable monetary integration which is different from the gradual process usually observed in monetary integration because with the exception of the EAC and UMA, the dynamics of IAMI show a steady trend in the overall index across time. Policy implications are discussed.
本研究完善了非洲联盟、非洲开发银行和联合国非洲经济委员会提出的非洲区域一体化指数(ARII)，提供了一个理论框架，并解决了指标权重和汇总方面的不足。本文通过构建非洲货币一体化指数来衡量非洲八个区域经济共同体(RECs)的货币一体化程度。提出了一个最优货币区作为理论框架，并使用面板方法来评价指数在不同时期的动态变化。研究结果表明:(i)通货膨胀和金融(贸易和流动性)得分最高(最低)，而西非经共体(EAC和IGAD)得分最高(最低)。(ii)令人惊讶的是，在大多数RECs中，对财富创造贡献最大的国家，并不是在区域货币一体化中表现最好的国家。(iii)非洲RECs的特点是稳定的货币一体化，这不同于通常在货币一体化中观察到的渐进过程，因为除了EAC和UMA之外，IAMI的动态在总体指数中呈现出一种随时间变化的稳定趋势。讨论了政策含义。
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