"Should Africa work toward a single currency? Can the European Union be a model for African nations? The goal of a common African currency has long been a pillar of African unity, a symbol of the strength that its backers hope will emerge from efforts to integrate the continent. A common currency could increase economic stability, provide greater insulation for central banks from pressures to provide monetary financing, and lower transactions costs. But there are many pitfalls along the road to achieving those goals. In The Monetary Geography of Africa, Paul Masson and Catherine Pattillo analyze the current situation and prospects for further integration."--BOOK JACKET.