The CFA franc area is one of the oldest currency unions, but it has come under intense criticism recently for failing to promote economic growth and income convergence between member states. This paper examines the growth experience of the 14 member countries relative to a common benchmark over...

Rapid growth in large emerging economies has been spread unequally across their regions leading to growing income disparities. This paper examines the distribution of regional output per capita and the evolution of its shape in Brazil, China, India, and Russia from the mid-1990s to the...