Feer For The Cfa Franc
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Feer For The Cfa Franc
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Author : Charalambos G. Tsangarides
language : en
Publisher: International Monetary Fund
Release Date : 2006-10
Feer For The Cfa Franc written by Charalambos G. Tsangarides and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2006-10 with Business & Economics categories.
We apply the fundamentals equilibrium exchange rate (FEER) approach and the Johansen cointegration methodology to investigate the behavior of the real effective exchange rates of the two monetary unions of the CFA franc zone (CEMAC and WAEMU) vis-à-vis their long-run equilibrium paths. For both CEMAC and WAEMU, our results indicate that: (i) the fundamentals account for most of the fluctuation of the real effective exchange rates, with increases in the terms of trade, government consumption, and productivity improvements causing the exchange rate to appreciate, and increases in investment and openness leading to a depreciation; (ii) at end-2005 both the CEMAC and WAEMU real effective exchange rates were broadly in line with their long-run equilibrium values; and (iii) following a shock, reversion to equilibrium is twice as fast in WAEMU than in CEMAC.
Imf Working Papers
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Author : Charalambos G. Tsangarides
language : en
Publisher:
Release Date : 2006
Imf Working Papers written by Charalambos G. Tsangarides and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2006 with Electronic books categories.
The Cfa Franc Zone And The Emu
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Author : Mr.Michael T. Hadjimichael
language : en
Publisher: International Monetary Fund
Release Date : 1997-11-01
The Cfa Franc Zone And The Emu written by Mr.Michael T. Hadjimichael and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 1997-11-01 with Business & Economics categories.
Whether the prospective shift of the peg of the CFA franc to the euro would constitute an exchange rate arrangement with EMU countries would depend critically on the interpretation of the free convertibility of the CFA franc guaranteed by France. Nonetheless, this shift is likely to leave the CFA franc arrangements and operating features of the zone essentially unchanged. The current parity of the CFA franc could be considered in line with fundamentals. The potential economic consequences for the CFA franc countries could be positive over the long term, but there is a risk of a weakening of external competitiveness.
The Cfa Franc Zone And The Emu
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Author : Michael Hadjimichael
language : en
Publisher:
Release Date : 2006
The Cfa Franc Zone And The Emu written by Michael Hadjimichael and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2006 with categories.
Whether the prospective shift of the peg of the CFA franc to the euro would constitute an exchange rate arrangement with EMU countries would depend critically on the interpretation of the free convertibility of the CFA franc guaranteed by France. Nonetheless, this shift is likely to leave the CFA franc arrangements and operating features of the zone essentially unchanged. The current parity of the CFA franc could be considered in line with fundamentals. The potential economic consequences for the CFA franc countries could be positive over the long term, but there is a risk of a weakening of external competitiveness.
Monetary Unions
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Author : Source Wikipedia
language : en
Publisher: University-Press.org
Release Date : 2013-09
Monetary Unions written by Source Wikipedia and has been published by University-Press.org this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013-09 with categories.
Please note that the content of this book primarily consists of articles available from Wikipedia or other free sources online. Pages: 54. Chapters: African Monetary Union, ASEAN Free Trade Area, Belgium-Luxembourg Economic Union, Caribbean guilder, Central African CFA franc, CFP franc, Common Monetary Area, Cooperation Council for the Arab States of the Gulf, Currency union, East African shilling, East Caribbean dollar, Economic and monetary union, Economic and Monetary Union of the European Union, Eco (currency), Germain Pirlot, History of the euro, Khaleeji (currency), Latin Monetary Union, Macroeconomic data in EMU, Napoleon (coin), North American currency union, Scandinavian Monetary Union, Snake in the tunnel, SUCRE, West African CFA franc. Excerpt: The euro (sign: code: EUR) is the currency used by the Institutions of the European Union and is the official currency of the eurozone, which consists of 17 of the 27 member states of the European Union: Austria, Belgium, Cyprus, Estonia, Finland, France, Germany, Greece, Ireland, Italy, Luxembourg, Malta, the Netherlands, Portugal, Slovakia, Slovenia, and Spain. The currency is also used in a further five European countries and consequently used daily by some 332 million Europeans. Additionally, more than 175 million people worldwide-including 150 million people in Africa-use currencies pegged to the euro. The euro is the second largest reserve currency as well as the second most traded currency in the world after the United States dollar. As of March 2013, with almost 920 billion in circulation, the euro has the highest combined value of banknotes and coins in circulation in the world, having surpassed the US dollar. Based on International Monetary Fund estimates of 2008 GDP and purchasing power parity among the various currencies, the eurozone is the second largest economy in the world. The name euro was officially adopted on 16 December 1995. The euro was introduced to world financial markets...
The Cfa Franc Zone 10 Years After Devaluation
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Author :
language : en
Publisher:
Release Date : 2004
The Cfa Franc Zone 10 Years After Devaluation written by and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2004 with categories.
The Cfa Franc Zone
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Author : Ms.Anne Marie Gulde
language : en
Publisher: International Monetary Fund
Release Date : 2008-04-02
The Cfa Franc Zone written by Ms.Anne Marie Gulde and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2008-04-02 with Business & Economics categories.
About one-third of countries covered by the IMF's African Department are members of the CFA franc zone. With most other countries moving away from fixed exchange rates, the issue of an adequate policy framework to ensure the sustainability of the CFA franc zone is clearly of interest to policymakers and academics. However, little academic research exists in the public domain. This book aims to fill this void by bringing together work undertaken in the context of intensified regional surveillance and highlighting the current challenges and the main policy requirements if the arrangements are to be carried forward. The book is based on empirical research by a broad group of IMF economists, with contributions from several outside experts.
International Risk Sharing And Currency Unions
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Author : Mr.Etienne B. Yehoue
language : en
Publisher: INTERNATIONAL MONETARY FUND
Release Date : 2005-05-01
International Risk Sharing And Currency Unions written by Mr.Etienne B. Yehoue and has been published by INTERNATIONAL MONETARY FUND this book supported file pdf, txt, epub, kindle and other format this book has been release on 2005-05-01 with Business & Economics categories.
This paper explores income and consumption smoothing patterns among the member countries of each of the CFA zones-the CEMAC2 and the WAEMU3-during the period 1980-2000. I find that for the CEMAC, only about 15 percent of shocks to GDP are smoothed through the standard channels (that is, capital market, credit market, and remittances). On the other hand, I find that 44 percent of shocks are smoothed via foreign aid from France, and 5 percent via central bank contributions, while reserves pooling provides no shock smoothing. For the WAEMU, I find that only 13 percent of shocks are smoothed through the standard channels, while 63 percent are smoothed via foreign aid from France, 7 percent via central bank contributions, and no smoothing via reserves pooling. I compare these results with the risksharing pattern in the Unites States. I argue that creating public venture capital at a regional level might help promote free capital flows within each zone and alleviate the apparently insufficient degree of risk-sharing observed through the standard channels.
The Oxford Handbook Of Africa And Economics
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Author : Célestin Monga
language : en
Publisher:
Release Date : 2015
The Oxford Handbook Of Africa And Economics written by Célestin Monga and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2015 with Business & Economics categories.
A popular myth about the travails of Africa holds that the continent's long history of poor economic performance reflects the inability of its leaders and policymakers to fulfill the long list of preconditions to be met before sustained growth can be achieved. These conditions are said to vary from the necessary quantity and quality of physical and human capital to the appropriate institutions and business environments. While intellectually charming and often elegantly formulated, that conventional wisdom is actually contradicted by historical evidence and common sense. It also suggests a form of intellectual mimicry that posits a unique path to prosperity for all countries regardless of their level of development and economic structure. In fact, the argument underlining that reasoning is tautological, and the policy prescriptions derived from it are fatally teleological: low-income countries are by definition those where such ingredients are missing. None of today's high-income countries started its growth process with the "required" and complete list of growth ingredients. Unless one truly believes that the continent of Africa-and most developing countries-are ruled predominantly if not exclusively by plutocrats with a high propensity for sadomasochism, the conventional view must be re-examined, debated, and questioned. This volume-the second of the Oxford Handbook of Africa and Economics-aims at reassessing the economic policies and practices observed across the continent since independence. It offers a collection of analyses by some of the leading economists and development thinkers of our time, and reflects a wide range of perspectives and viewpoints-even on the same topic. Africa's emergence as a potential economic powerhouse in the years and decades ahead amply justifies the scope and ambition of the book.
Information Circular
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Author :
language : en
Publisher:
Release Date : 1925
Information Circular written by and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1925 with Mines and mineral resources categories.