Tax revenue mobilization is essential in the fiscal operations of every economy. The Economic Community of West African States (ECOWAS) therefore has a criterion on tax revenue under the convergence criteria of the ECOWAS Monetary Cooperation Programme (EMCP), which states that tax ratio (as a percentage of GDP) should be at least 20 percent. Despite […]
Macroeconomic stability is one of the major concerns of political and economic decision- makers and means observing major macroeconomic indicators. In fact, since the recent crisis which began in 2008 in the United States, developed and developing countries have been finding it difficult to restore macroeconomic stability. In the OECD zone, the budget deficit reached […]
Macroeconomic convergence is a core issue under the ECOWAS monetary Cooperation programme. In addition to facilitating policy coordination, it affords the opportunity of ensuring macroeconomic stability, thereby, guaranteeing the purchasing power of the common currency being envisaged. Thus, in pursuance of the need for convergence of the economies within the sub-region, certain indicators have been […]
The international economy has been affected during the last two years by asuccession of crises. The spiral has started with a food crisis which was mainly caused by the increasing use of cereals for the production of biofuel combinedwith a series of bad weather which affected certain production sites. This situation resulted in a considerable […]
Over the period 1980-2008, the price of crude oil had fluctuated significantly, with a mean, minimum and maximum values of $ 32.31 (bbl), $ 12.72 (bbl) and $ 140 (bbl) respectively. The above statistics, in addition to a standard deviation of 17.08 over the sample period show that the prices of crude have always been […]
The ECOWAS Monetary Co-operation Programme (EMCP) aims to establish a monetary union which is defined as a group of two or more countries sharing a common currency managed by an autonomous monetary authority (in the strict sense) or a mechanism whereby all domestic currencies are convertible one to the other. The desire to establish a […]
