Weights of Money, Credibility and Sphere of the Money Circuit: Observations Through a Monetary Evolution in West Africa

Discussion Paper Series No.44, Faculty of Economics and Management, Kanazawa University

Posted: 12 Sep 2018

Date Written: August 28, 2018

Abstract

This paper focuses on the monetary evolution in West Africa. However, the purpose of this paper is not to present the peculiarities of the West African monetary system, but to reconsider why multiple monetary circuits coexist in an economic sphere. West Africa is one of the few regions in the world to accept different types of currencies over the last century, including commodities, colonial, national and common to digital currencies, and the monetary spheres are also transforming along with the monies. Through this monetary evolution, this paper especially focuses on two factors to determine the dimensions of the money circuit: the physical weight and the credibility of money. From this monetary evolution, we also easily understand that human beings are always seeking more appropriate currencies for their purpose. This also causes the phenomenon of multiple monies.

Keywords: Weight of money, Credibility, Multiple monies, Economic sphere, West Africa

JEL Classification: E40, N27

Suggested Citation

Masaki, Toyomu, Weights of Money, Credibility and Sphere of the Money Circuit: Observations Through a Monetary Evolution in West Africa (August 28, 2018). Discussion Paper Series No.44, Faculty of Economics and Management, Kanazawa University . Available at SSRN: https://ssrn.com/abstract=3236692 or http://dx.doi.org/10.2139/ssrn.3236692

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