1945

The way forward

image of The way forward

The focus of this chapter is to summarize the main findings of the report, the challenges and the way forward. Monetary and financial integration is an important step toward deeper economic integration. As indicated in previous chapters, there is ample empirical evidence in the literature to show that trade within a community and outside increases significantly when a regional bloc attains an advanced form of monetary cooperation (such as a common currency). Further more, the literature also shows that if a regional economic community is able to achieve a common market, then stronger monetary integration is needed to streng then that market. In addition, advanced form of monetary and financial cooperation improves overall economic performance and per capita output in participating countries.

Related Subject(s): International Trade and Finance
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