Till Geography Do Us Part? Prolegomena to an Economic and Monetary Union between the Dominican Republic and Haiti

Moreira, Emmanuel Pinto

dc.creator	Moreira, Emmanuel Pinto
dc.date	2012-03-19T18:38:45Z
dc.date	2012-03-19T18:38:45Z
dc.date	2010-03-01
dc.date.accessioned	2023-02-17T21:02:28Z
dc.date.available	2023-02-17T21:02:28Z
dc.identifier	http://www-wds.worldbank.org/external/default/main?menuPK=64187510&pagePK=64193027&piPK=64187937&theSitePK=523679&menuPK=64187510&searchMenuPK=64187283&siteName=WDS&entityID=000158349_20100317141318
dc.identifier	http://hdl.handle.net/10986/3728
dc.identifier.uri	http://localhost:8080/xmlui/handle/CUHPOERS/244692
dc.description	This paper offers a preliminary assessment of the potential benefits and costs of an economic and monetary union (EMU) between the Dominican Republic and Haiti -- two countries sharing the same island but whose history is one of conflict and divergent economic prospects in recent decades. After a brief review of the historical context, it examines the nature of these potential benefits and costs. It then conducts a preliminary analysis (using basic statistical techniques) of some key criteria for the formation of an economic and monetary union between the two countries. A more formal analysis of business cycle synchronization, based on basic and extended integrated vector auto-regression models with exogenous variables (VARX), is developed next. Overall, the analysis suggests that at this stage several economic criteria are not satisfied for the two countries to fully benefit from an economic and monetary union. At the same time, however, the endogeneity of most of these criteria (including the degree of business cycle synchronization) militates in favor of an aggressive medium-term agenda for integration between them.
dc.language	English
dc.relation	Policy Research working paper ; no. WPS 5241
dc.rights	CC BY 3.0 IGO
dc.rights	http://creativecommons.org/licenses/by/3.0/igo/
dc.rights	World Bank
dc.subject	ADJUSTMENT MECHANISM
dc.subject	ADVERSE SHOCKS
dc.subject	AGGREGATE DEMAND
dc.subject	ARBITRAGE
dc.subject	BANK CREDIT
dc.subject	BILATERAL EXCHANGE RATE
dc.subject	BILATERAL EXCHANGE RATES
dc.subject	BILATERAL TRADE
dc.subject	BUFFER
dc.subject	BUSINESS CYCLE
dc.subject	BUSINESS CYCLES
dc.subject	CAPITAL FLOWS
dc.subject	CAPITAL MARKETS
dc.subject	CAPITAL MOBILITY
dc.subject	CENTRAL BANK
dc.subject	CLARITY
dc.subject	COLONIALISM
dc.subject	COMMERCIAL BANKS
dc.subject	COMMODITY
dc.subject	COMMODITY EXPORT
dc.subject	COMMODITY PRICES
dc.subject	COMMON CURRENCY
dc.subject	COMMON CURRENCY AREA
dc.subject	COMMON MARKET
dc.subject	COMMUNICATIONS
dc.subject	COMPETITION
dc.subject	COMPETITION POLICY
dc.subject	COMPETITIVENESS
dc.subject	CONSOLIDATION
dc.subject	CONSUMER GOODS
dc.subject	CONSUMER PRICE INDEX
dc.subject	CONSUMER PRICE INFLATION
dc.subject	CONSUMPTION
dc.subject	CONTROL VARIABLES
dc.subject	CORRELATION COEFFICIENT
dc.subject	CORRELATION COEFFICIENTS
dc.subject	CREDIBILITY
dc.subject	CURRENCIES
dc.subject	CURRENCY
dc.subject	CURRENCY RISK
dc.subject	CURRENCY UNION
dc.subject	CURRENCY UNIONS
dc.subject	CUSTOMS UNION
dc.subject	CYCLICAL FLUCTUATIONS
dc.subject	DEFICITS
dc.subject	DEMAND
dc.subject	DEPRECIATION
dc.subject	DEPRESSION
dc.subject	DEVALUATION
dc.subject	DEVELOPING COUNTRIES
dc.subject	DIFFERENT CURRENCIES
dc.subject	DISCRETIONARY POLICY
dc.subject	DISTORTIONS
dc.subject	DOMESTIC CAPITAL MARKETS
dc.subject	DOMESTIC CURRENCY
dc.subject	DOMESTIC INFLATION
dc.subject	DOMESTIC INTEREST RATES
dc.subject	DOMESTIC-CURRENCY
dc.subject	DUMMY VARIABLES
dc.subject	ECONOMIC DEVELOPMENT
dc.subject	ECONOMIC GROWTH
dc.subject	ECONOMIC INTEGRATION
dc.subject	ECONOMIC PERFORMANCE
dc.subject	ECONOMIC POLICIES
dc.subject	ECONOMIC SHOCKS
dc.subject	ECONOMIES
dc.subject	ECONOMY
dc.subject	ENDOGENOUS VARIABLE
dc.subject	ENDOGENOUS VARIABLES
dc.subject	EURO ZONE
dc.subject	EXCHANGE RATE
dc.subject	EXCHANGE RATE FLEXIBILITY
dc.subject	EXCHANGE RATE MOVEMENTS
dc.subject	EXCHANGE RATE RISK
dc.subject	EXCHANGE RATE STABILITY
dc.subject	EXCHANGE RATE UNCERTAINTY
dc.subject	EXCHANGE RATE VARIABILITY
dc.subject	EXCHANGE RATE VOLATILITY
dc.subject	EXCHANGE-RATE
dc.subject	EXCHANGES
dc.subject	EXOGENOUS VARIABLE
dc.subject	EXOGENOUS VARIABLES
dc.subject	EXPORT MARKET
dc.subject	EXPOSURE
dc.subject	EXTERNAL FACTORS
dc.subject	EXTERNAL SHOCK
dc.subject	EXTERNAL SHOCKS
dc.subject	EXTERNAL TRADE
dc.subject	FINANCIAL CRISES
dc.subject	FINANCIAL CRISIS
dc.subject	FINANCIAL INTEGRATION
dc.subject	FINANCIAL MARKETS
dc.subject	FINANCIAL SUPPORT
dc.subject	FINANCIAL TRANSACTIONS
dc.subject	FINANCIAL VARIABLES
dc.subject	FISCAL BALANCE
dc.subject	FISCAL DEFICIT
dc.subject	FISCAL POLICIES
dc.subject	FISCAL POLICY
dc.subject	FIXED EXCHANGE RATE
dc.subject	FIXED EXCHANGE RATES
dc.subject	FLEXIBLE EXCHANGE RATE
dc.subject	FLEXIBLE EXCHANGE RATES
dc.subject	FOREIGN CURRENCIES
dc.subject	FOREIGN CURRENCY
dc.subject	FOREIGN DIRECT INVESTMENT
dc.subject	FOREIGN EXCHANGE
dc.subject	FORWARD CONTRACTS
dc.subject	FRANC ZONE
dc.subject	FREE TRADE
dc.subject	FREE TRADE AREA
dc.subject	HARMONIZATION
dc.subject	IMPORT
dc.subject	IMPORTS
dc.subject	INCOME
dc.subject	INDEPENDENT MONETARY POLICY
dc.subject	INDUSTRIAL COUNTRIES
dc.subject	INFLATION
dc.subject	INFLATION DIFFERENTIAL
dc.subject	INFLATION DIFFERENTIALS
dc.subject	INFLATION EXPECTATIONS
dc.subject	INFLATION RATE
dc.subject	INFLATION RATES
dc.subject	INFLATION TARGETING
dc.subject	INFLATION TARGETING REGIME
dc.subject	INTEREST
dc.subject	INTERNATIONAL FINANCIAL STATISTICS
dc.subject	INVESTMENT EXPENDITURE
dc.subject	INVESTMENTS
dc.subject	LABOR MARKET
dc.subject	MACROECONOMIC ADJUSTMENT
dc.subject	MACROECONOMIC POLICY
dc.subject	MACROECONOMIC STABILITY
dc.subject	MACROECONOMIC VARIABLES
dc.subject	MAJOR CURRENCIES
dc.subject	MONETARY AUTHORITIES
dc.subject	MONETARY AUTHORITY
dc.subject	MONETARY INDEPENDENCE
dc.subject	MONETARY POLICIES
dc.subject	MONETARY POLICY
dc.subject	MONETARY POLICY AUTONOMY
dc.subject	MONETARY POLICY INDEPENDENCE
dc.subject	MONETARY UNION
dc.subject	MONETARY UNIONS
dc.subject	MONEY
dc.subject	NARROW BANDS
dc.subject	NATIONAL CURRENCY
dc.subject	NATURAL RESOURCES
dc.subject	NOMINAL ANCHOR
dc.subject	NOMINAL DEPRECIATION
dc.subject	NOMINAL DEPRECIATIONS
dc.subject	NOMINAL EXCHANGE RATE
dc.subject	NOMINAL WAGE
dc.subject	NOMINAL WAGES
dc.subject	OIL IMPORTERS
dc.subject	OIL PRICE
dc.subject	OIL PRICES
dc.subject	OPTIMUM CURRENCY AREAS
dc.subject	OUTPUT
dc.subject	OUTPUT GAP
dc.subject	OUTPUT GAPS
dc.subject	POLITICAL INSTABILITY
dc.subject	POLITICAL REGIME
dc.subject	POSITIVE SPILLOVERS
dc.subject	POVERTY REDUCTION
dc.subject	PREFERENTIAL ACCESS
dc.subject	PRICE FLEXIBILITY
dc.subject	PRICE INDEX
dc.subject	PRICE OF OIL
dc.subject	PRICE STABILITY
dc.subject	PRIVATE INVESTMENT
dc.subject	PRODUCTION STRUCTURES
dc.subject	PUBLIC DEBT
dc.subject	QUOTAS
dc.subject	RATE OF INFLATION
dc.subject	REAL APPRECIATION
dc.subject	REAL DEPRECIATION
dc.subject	REAL EFFECTIVE EXCHANGE RATE
dc.subject	REAL EXCHANGE RATE
dc.subject	REAL EXCHANGE RATES
dc.subject	REAL INTEREST RATE
dc.subject	RELATIVE PRICE
dc.subject	REMITTANCE
dc.subject	REMITTANCES
dc.subject	RESPONSE TO SHOCKS
dc.subject	RETAIL PRICE
dc.subject	RISK PREMIUM
dc.subject	SHARE
dc.subject	SINGLE CURRENCY
dc.subject	SINGLE MARKET
dc.subject	SOVEREIGNTY
dc.subject	STABLE INFLATION
dc.subject	STRONG NOMINAL ANCHOR
dc.subject	STRUCTURAL SHOCKS
dc.subject	SUPPLY
dc.subject	SUPPLY SHOCKS
dc.subject	SURPLUSES
dc.subject	TARIFF BARRIERS
dc.subject	TARIFF POLICY
dc.subject	TECHNICAL ASSISTANCE
dc.subject	TRADE INTEGRATION
dc.subject	TRADE POLICY
dc.subject	TRADE SHOCKS
dc.subject	TRADE STATISTICS
dc.subject	TRADING PARTNER
dc.subject	TRANSACTION COSTS
dc.subject	TRANSACTIONS COSTS
dc.subject	TRANSMISSION MECHANISM
dc.subject	TREASURY BILL
dc.subject	VARIANCE-COVARIANCE MATRIX
dc.subject	WELFARE
dc.subject	WORLD PRICE
dc.title	Till Geography Do Us Part? Prolegomena to an Economic and Monetary Union between the Dominican Republic and Haiti
dc.type	Publications & Research :: Policy Research Working Paper
dc.coverage	Haiti
dc.coverage	Dominican Republic