Open AccessBanking crises and inflation dynamics in the West Africa Monetary Zone (WAMZ)
Author(s) -
Ismail A. Adeleke
Publication year - 2013
Publication title -
journal of economics and international finance
Language(s) - English
Resource type - Journals
ISSN - 2006-9812
DOI - 10.5897/jeif2013.0522
Subject(s) - inflation (cosmology) , currency , monetary policy , economics , monetary economics , inflation targeting , international economics , physics , theoretical physics
This paper examines the impact of banking crises on inflation in West Africa Monetary Zone (WAMZ) from 1970 to 2012. It adopts the modified monetarist theory of inflation that is based on dynamic panel estimation technique to analyze the dynamics of inflation and banking crises. The paper indicates that banking crises increases the rate of inflation in WAMZ. The study concludes that incessant banking crises can thwart the effectiveness of monetary policy and the achievement of single central bank and thus common currency among member states in WAMZ.
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