01868cas a2200265 a 4500 AALejournalIMF008934 230101c9999 xx r poo 0 0eng d 5.00 USD 9781451862911 1018-5941 BD-DhAAL BD-DhAAL Hulej, Michal. Stylized Facts on Bilateral Trade and Currency Unions : Implications for Africa / Michal Hulej, Charalambos Tsangarides, Pierre Ewenczyk. Washington, D.C. : International Monetary Fund, 2006. 1 online resource (37 pages) IMF Working Papers <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students This paper explores and quantifies several aspects of the performance of currency unions using an augmented version of the gravity model and focusing on two samples, the world and Africa. Our empirical findings suggest that, in principle, membership in a currency union should benefit Africa as much as it does the rest of the world. In addition, we find evidence from both samples that the effect of currency unions on trade is large, almost a doubling; currency unions are associated with trade creation, increase price co-movements among members, and make trade more stable; and longer duration of currency union membership brings about more benefits, although with some diminishing returns. Mode of access: Internet Ewenczyk, Pierre. Tsangarides, Charalambos. IMF Working Papers; Working Paper ; No. 2006/031 Full text available on IMF http://elibrary.imf.org/view/journals/001/2006/031/001.2006.issue-031-en.xml IMF e-Library