THE IMPLICATION OF COMMON CURRENCY FOR WEST AFRICAN COUNTRIES

TABLE OF CONTENTS

CHAPTER ONE

1. Introduction                                                                1

1.1       Background of the study                                                        1

1.2       Statement of the problem                                           4

1.3       Purpose of the study                                                   5

1.4       Research questions                                                      6

1.5       Significance of the study                                                        6

1.6       Scope and limitation of the study                               7

reference                                                                                 9

CHAPTER TWO

Literature review                                                                                 10

1. Introduction                                                                10
2. West African Countires – ECOWAs                          12
3. Problem of ECOWAs                                                             17
4. West African Currency Board (WACB)                    18
   1. West African Currency Board operation                    20
   2. The concept – common currency                                21
5. Global common currency                                            23
   1. The Euro – Dollar                                                                   23
6. The need for global common currency                       24
7. Management, headquarters and mode of operation of West African Common Currency                                                     31
8. The prospect o common currency for West African 33
9. The problems facing the establishment of common currency for Africa.                                                                               35
10. References                                                                              39

CHAPTER THREE

Research methodology

1. Method of investigation                                                                     42
2. Instrument of data collection                                                  42
3. Primary sources of data                                                                      43
4. Secondary sources of data                                                      43
5. Population and determination of sample size                         44
6. Validity and reliability of research instrument                       46

CHAPTER FOUR

Data presentation and analysis                                                           47

1. Data analysis techniques                                                         47
2. Analysis of questionnaires                                                      48

CHAPTER FIVE

Summary of findings, recommendations and conclusion

1. Summary of findings                                                              65
2. Recommendations                                                                              66
3. Conclusion                                                                                          68

Bibliography                                                                           69

Appendix                                                                                            73

PROPOSAL

This project research is primarily aimed at dealing with the implications of a common currency for West African countries. As the world is geared towards globalization, West African countries deemed it very imperative to adopt the use of common currency in the sub-region just like their European or Francophone counterparts.

The central focus of this research is to know the extent to which the ECOWAS member states have gone in establishing a common currency for West African, to find out if the introduction of West African common currency will enhance economic growth and development in the sub-region; to examine some policy measures introduced to boost the adoption of a west African common currency.