COUHARDE, Cécile; Guerreiro, David; Mignon, Valérie; … - EconomiX, Université Paris Ouest-Nanterre la Défense … - 2012
This paper aims at explaining why the CFA countries have successfully maintained a currency union for several decades, despite failing to meet many of optimum currency area criteria. We suggest that the CFA zone, while not optimal, has been at least sustainable. We test this sustainability...