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Although the CFA monetary union is not an “optimal” currency area as such, it has allowed member countries to benefit from the convertibility guaranteed by the French Treasury and from enhanced policy credibility in achieving low inflation rates. Both benefits may be under threat. The...
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In order to inform discussions on the extent of poverty in a country, it is often useful to compare the country's poverty measures to estimates obtained in other countries with similar levels of development within the same region of the world. Beyond gains from the point of view of cross-country...
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Purpose – A major lesson of the EMU crisis is that serious disequilibria result from regional monetary arrangements not designed to be robust to a variety of shocks. The purpose of this paper is to assess these disequilibria within the CEMAC, UEMOA and CFA zones.Design/methodology/approach –...
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