Financial Development, Currency Union and Dynamic Growth in West Africa: A Panel Investigation
Bibliographic record
Abstract
The objectives of this paper are to investigate the effect of financial development and currency union on the growth of West African economies and to determine if the financial development is necessary for currency union to be more beneficial to growth in West African region.A modified model of Alfaro et al, ( 2004) was adopted.The sample was drawn from 12 West African countries -five from West African Monetary zone and seven from West African Economic and Monetary Union countries.System GMM was employed to estimate the parameters.The results indicate that the effect of the currency union on West African economies is consistently negative except when interacting with market based financial system.The level of financial development is low.This implies that forming currency union will not be a good policy option at this level of financial development in West Africa as asymmetry shocks and monetary policies across countries differ.Harmonization of financial system is desired for common currency to yield intended effects.
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How this classification was reachedexpand
Full frame distilled prediction
Teacher imitationNot calibrated prevalence, not ground truth. Human validation pending. Learned from the 10,348 direct Codex labels and 10,348 direct Gemma labels. Candidate is the union of thresholded teacher heads; consensus is their intersection. These outputs are machine_predicted_unvalidated and are not human labels or direct frontier model labels.
Codex and Gemma teacher scores by category
| Category | Codex | Gemma |
|---|---|---|
| Metaresearch | 0.001 | 0.000 |
| Meta-epidemiology (narrow) | 0.000 | 0.000 |
| Meta-epidemiology (broad) | 0.000 | 0.000 |
| Bibliometrics | 0.000 | 0.000 |
| Science and technology studies | 0.000 | 0.000 |
| Scholarly communication | 0.000 | 0.001 |
| Open science | 0.000 | 0.000 |
| Research integrity | 0.000 | 0.000 |
| Insufficient payload (model declined to judge) | 0.000 | 0.000 |
Machine scores (provisional)
The two teacher heads of the student model, read on this work. A score orders the frame for review; it never asserts a category, and the validation status ships verbatim with every row.
Baseline scores from an immature model (maturity gate not passed, 7 training rounds). Scores rank; they never assert a category.
score_only:v0-immature-baseline · verbatim from the scoring run: score_only means the number may rank works, and no category label ships from itClassification
machine, unvalidatedMachine predicted; a candidate call from one teacher head, not a consensus.
How this classification was reached, model by model and score by score, is at the end of the page under "How this classification was reached".