While the severe global recession seems to be bottoming out and the global economic outlook is turning cautiously optimistic, the negative impact of the crisis on many African countries continues to deepen. The crisis has hit Africa with a lag, interrupting at best, and ending at worst, the...

This chapter highlights key shortcomings and failures of Europe's Economic and Monetary Union - essentially the most advanced case of regional integration in the world, inspiring numerous other initiatives including among developing countries, but fatally flawed and limited. The European...

The exposure of African financial sectors to global risks, including the likely fall-out of the on-going European debt crisis, continues to be limited. African financial sectors have received much recognition for their steady growth performance and resilience during and after the 2008 global...

In this article, we have implemented a macroprudential “stress-test” (Top-down) of credit risk at the level of banks in the WAEMU zone. Empirically, we performed a simulation on three macroeconomic scenarios using the Vector Auto Regressive (VAR) model. Our historical scenarios refer to the...