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ÖZETBu tezde, Ekonomik ve Parasal Birlikleri ve Batı Afrika Ekonomik ve Parasal Birliğinin(WAEMU) kurulmasının bölgesel ticaret tanıtımına ve entegrasyona nasıl katkıda bulunduğuincelenecektir. Daha spesifik olarak, Batı Afrika para biriminin (CFA) ticaret üzerindeki etkisiniaraştırıyor. WAEMU üyeleri arasında ticarete diğerlerinden daha açık olan ve üyelik bakımındandiğerlerinden Mali, Senegal ve Togo'ya göre daha fazla fayda sağlayan bazı kişiler var. Örneğin,ağırlık modelini kullanan ampirik sonuçlar, aynı para birimini paylaşan ülkelerin - Batı AfrikaCFA - ticaret yaptıkları ülkelerin, diğerlerinden iki kat fazla (2.23) ticaret yaptıklarınıgöstermektedir; bu, ekonomik açıdan ve statik olarak önemlidir. Buna ek olarak, WAEMUülkelerinin ayrıcalıklı ticaret ortağının ticaretinin üç katından fazla olduğu (3.67) Asya ülkeleriolduğunu görüyoruz. Buna ek olarak, bitişikliğin, tarihsel ve kültürel bağların ikili ticareti vebölgesel bütünleşmeyi teşvik ettiğine dair güçlü kanıtlar buluyoruz. Örneğin, tarihi ve kültürelbağları paylaşan ülkeler arasında % 51.7 daha fazla değişim gerçekleşir. Yerçekimi modelinin yanısıra Zivot-Andrews (1992) Yapısal Kırılmayla Birim Kök Testi ve WAEMU üyelerinin az çokaynı iş döngüsüne sahip olduklarını buluyoruz. Sürdürülebilirlik ve daha açık ekonomiler için,WAEMU üye ülkelerinin makroekonomik yakınsama kriterlerine saygı gösterilmesi ve ayrıcaüretken kapasitelerin oluşturulması zorunludur. Bölgesel entegrasyonu güçlendirmek için BatıAfrika Raylı Geçiş Projesinin tamamlanması da çok önemlidir.ABSTRACTThis dissertation examines the Economic and Monetary Unions and how the establishment of WestAfrican Economic and Monetary Union (WAEMU) contributes to regional trade promotion andintegration. More specifically, it explores the effect of West African currency (CFA) on trade. WithinWAEMU members, there are some countries who are more open to trade than others and also benefitmore from the membership. Countries like Mali, Senegal and Togo can be given as examples.Empirical findings using gravity model suggests that countries sharing the same currency - WestAfrica CFA – trade over two times (2.23) as much between them than with others which iseconomically meaningful and statistically significant. In addition, we find that the privileged tradepartner of WAEMU countries are Asian countries with whom they trade more than three times (3.67)than with the rest of the world. Furthermore, we find a strong evidence showing that contiguity andhistorical and cultural links encourage bilateral trade and regional integration. It is observed thatcountries sharing historical and cultural links trade 51.7% more with each other. Besides the gravitymodel, we use Zivot-Andrews (1992) unit root test with structural break and find that WAEMUmembers have more or less the same business cycle. For sustainability and more open economies, itis imperative that WAEMU member countries respect the macroeconomic convergence criteria and also build productive capacities. It is also crucial to complete the West African Rail Loop Project tostrengthen regional integration.

This paper studies whether a monetary union can be managed solely by a rule-based approach. The Five Presidents' Report of the European Union rejects this idea. It suggests a centralisation of powers. We analyse the philosophy of policy rules from the vantage point of the German economic school of thought. There is evidence that a monetary union consisting of sovereign states is well organised by rules, together with the principle of subsidiarity. The root cause of the euro crisis is rather the weak enforcement of rules, compounded by structural problems. Therefore, we suggest a genuine rule-based paradigm for a stable future of the Economic and Monetary Union.

The last few years, the economic divergences which were observed in macroeconomic performances of the EU's Member States as well as the low rate of their economic adaptation within the EMU, had raised concerns about the long-run sustainability of the EMU. During the first decade, the EMU has not decisively contributed to the creation of a stable and strong macroeconomic environment for the Member States as the real economic convergence remained on paper. The economic heterogeneity is likely to lead to asymmetric economic preferences concerning the economic policies which are followed by each of the Members States. This increases the likelihood of future conflicts and reduces the possibility of the creation of a genuine monetary union. In this regard, the Member States continue to pursue their own economic policies, mainly based on their national preferences and it is very difficult to change in the very short-run the culture of economic policy they represent.

Although the need for fiscal coordination and for controlling national spending in particular have been widely justified, relatively little attention has been paid to identifying and analyzing concrete measures to make this feasible. Most studies on these aspects of the Economic and Monetary Union have been concerned with questions as to why the need exists for fiscal convergence and to what degree is it desirable. Attention has only recently been focused on examining what budgetary measures (rules, procedures, structures) can be taken by the Commission or finance ministries for European convergence. The objective of this book is to discuss and suggest alternative policy-option initiatives at EC and national levels encouraging convergent financial management behaviour. Analyses are focused on the following important questions: ` What is the current capacity of EC and national governments to manage public spending? ' ; ` What budgetary strategies are available to reduce deficits? ' ; ` What should the role of the Commission be under these circumstances? ' ; ` What is the Member States' responsibility for managing national budgets? ' ; ` What budgetary norms and rules should be proposed and negotiated to guarantee convergence of integration? ' ; ` What strategic and structural arrangements could facilitate integration? ' , etc

If the plans concerning EMU will be realised, by 2002 national currencies will be replaced by the Euro and national central banks will be partially replaced by the European Central Bank. The Politics of Economic and Monetary Union starts with the argument that EMU is more a political than an economic project. It develops this theme by addressing five different questions. First, precisely what is the general role of EMU in the globalising political economy? Second, how EMU will change the power relations and the relationship between `political' and `economic'? Third, what effects will EMU have on generally accepted values - including for example efficiency, self-determination, and democracy? Fourth, how does the EMU-related politics of symbols - including money - take part in constructing political identities? And last, but certainly not least, what effects EMU will have on the social and political dimension of the Union and thus also on its legitimacy? The politics of EMU includes many dimensions. The book tries to explain the hegemony of the neoliberal and German vision of Europe in the context of recent development in the global political economy. It assesses the consequences of this hegemony and the possibility for alternatives from a variety of perspectives. In many chapters, it is also argued that the legitimation problems of the Union may turn into an acute crisis also because of EMU. We should expect an actualised crisis to lead to a transformation of the Union

A. J. Kukuła, Economic Conditions of the Economic and Monetary Union Crisis. For Europeans and the European Union the global financial and economic crisis (2007-2013) was a small earthquake which not only deepened the existing socio-economic problems, but also highlighted in a bright way their causes, turning public attention to numerous pathologies in the area of both national and the Community finance and economy which had been previously ignored by leaders of European countries and the European Union. The financial and economic crisis and the numerous problems associated with the functioning of the Economic and Monetary Union (EMU) were paradoxically an impetus for the European Union to revise its existing financial policy and to undertake appropriate reformatory action. The scale and complexity of the problems made it necessary to carry out reforms at both the Community and the Member State levels. According to the author, in discussing the crisis that today affects the Community and the eurozone we should more effectively reach out to the real, deep-seated reasons than be satisfied with the explanations based on often superficial analyzes of visible manifestations of the crisis. In the author's opinion when undertaking this subject we also need to refer to the theoretical foundations of economic integration thus creating proper conditions for a discussion on the problems of European economic and monetary integration.The purpose of this study is draw attention to the economic, fiscal conditions of the European crisis, the crisis of the EMU and the eurozone, as well as its relationship to the theoretical foundations of economic and monetary integration. ; Artur Jan Kukuła

This short paper sets out background to current EU policy on European and Monetary Union (EMU), looking at both the management of monetary policy focusing on the Euro and the parallel system for economic policy coordination which is primarily the responsibility of member states. It describes the way in which EU countries coordinate economic policy (notably through the Economic Reform Programmes and processes such as deficit reduction procedures) and how the EU institutions will support countries in the delivery of EU policies, including the mobilisation of investment funds to support EU policy priorities. It then looks as Scotland's experience, describes the most recent Scottish Economic Reform Programme 2016 and postulates that the close degree of alignment between Scottish and EU economic and social priorities would allow a basis for joint working if Scotland decides to pursue a more close approach to EU policies than the rest of the UK. It also notes that if Scotland pursues the independence in Europe option, Euro membership would not be an issue of substance in the early years and that the focus of EMU discussions would likely be on the need for a deficit reduction programme for Scotland.