West african monetary zone

The purpose of this study is to determine the synchronous or asynchronous nature of movements in the exchange rate yields of the various ECOWAS currencies. This analysis uses the dynamic conditional correlation model recently developed by [1]. The use of this methodology is mainly due to the non-constancy of the volatility of the financial series. Moreover, this characteristic of volatility remains natural for a small, very open economy, which is also subject to a multiplicity of exogenous shocks.

17p chauchaungayxua2 19-01-2020 11 2   Download