Monetary policies in West Africa fuel inflation, hinder economic growth.
The study looked at how monetary policies affect the economies of West African countries. By analyzing data, the researchers found that independent monetary policies didn't help the countries' economies grow. Instead, they caused stagnation and inflation. Increasing money supply and devaluing currency led to higher prices, not more growth. Interest rates also had a negative impact on economic growth. The study suggests that these countries would benefit from joining a regional monetary union to improve their economic performance.