Money Demand And Regional Monetary Policy In The West African Economy And Monetary Union
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Money Demand And Regional Monetary Policy In The West African Economic And Monetary Union
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Author : Philipp Rother
language : en
Publisher:
Release Date : 2006
Money Demand And Regional Monetary Policy In The West African Economic And Monetary Union written by Philipp Rother 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.
Regional monetary integration, financial liberalization, and the adoption of indirect policy instruments have changed the conditions for monetary policy in the West African Economic and Monetary Union (WAEMU). The stability of money demand has become a crucial element for monetary policy. This paper presents empirical money demand estimations for regional monetary aggregates and analyzes their stability and forecast performance. The estimations result in a stable relationship for narrow money (M1). Consequently, the region`s central bank, the BCEAO, can continue to conduct monetary policy in line with the fixed exchange rate system if it succeeds in maintaining financial stability.
Money Demand And Regional Monetary Policy In The West African Economic And Monetary Union
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Author : Mr.Philipp C. Rother
language : en
Publisher: International Monetary Fund
Release Date : 1998-04-01
Money Demand And Regional Monetary Policy In The West African Economic And Monetary Union written by Mr.Philipp C. Rother 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 1998-04-01 with Business & Economics categories.
Regional monetary integration, financial liberalization, and the adoption of indirect policy instruments have changed the conditions for monetary policy in the West African Economic and Monetary Union (WAEMU). The stability of money demand has become a crucial element for monetary policy. This paper presents empirical money demand estimations for regional monetary aggregates and analyzes their stability and forecast performance. The estimations result in a stable relationship for narrow money (M1). Consequently, the region’;s central bank, the BCEAO, can continue to conduct monetary policy in line with the fixed exchange rate system if it succeeds in maintaining financial stability.
Money Demand And Regional Monetary Policy In The West African Economy And Monetary Union
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Author : Philipp Constantin Rother
language : en
Publisher:
Release Date : 1998
Money Demand And Regional Monetary Policy In The West African Economy And Monetary Union written by Philipp Constantin Rother and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1998 with categories.
Money Demand In The West African Economic And Monetary Union The Problems Of Aggregation
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Author : Philipp Rother
language : en
Publisher:
Release Date : 2010
Money Demand In The West African Economic And Monetary Union The Problems Of Aggregation written by Philipp Rother and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2010 with categories.
Regional monetary integration, financial liberalisation and the adoption of indirect policy instruments continue to change the conditions for monetary policy in the West African Economic and Monetary Union (WAEMU). While the identification of a stable money demand relationship has become a crucial element for monetary policy, differences in economic behaviour between Cocirc;te d`Ivoire and the remaining countries may induce instability at the aggregate level. This paper analyses the demand for money for the entire WAEMU, the six smaller member countries, and Cocirc;te d`Ivoire. A stable aggregate money demand function is identified and interpreted in light of the results for the sub-regional estimations.
West African Economic And Monetary Union Waemu
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Author : International Monetary Fund
language : en
Publisher: International Monetary Fund
Release Date : 2012-03-22
West African Economic And Monetary Union Waemu written by International Monetary Fund 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 2012-03-22 with Business & Economics categories.
The staff report on discussions with regional institutions of the West African Economic and Monetary Union is presented. The region faced a number of challenges in 2011, with the intensification of the political crisis in Côte d’Ivoire and a large increase in global food and fuel prices. A materialization of downside risks could require a monetary policy relaxation for the union and differentiated fiscal responses across member countries. The drought in the Sahel may also require a more active fiscal policy in the affected countries.
West African Economic And Monetary Union Waemu
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Author : International Monetary Fund. African Dept.
language : en
Publisher: International Monetary Fund
Release Date : 2014-03-21
West African Economic And Monetary Union Waemu written by International Monetary Fund. African Dept. 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 2014-03-21 with Business & Economics categories.
This West African Economic and Monetary Union (WAEMU) IMF staff report focuses on common policies for member countries. The region continued to experience a strong upswing in 2013, and the immediate outlook is for further vigorous growth and moderate inflation. Delays in implementing reforms, at both the national and regional levels, are the principal medium-term risk. It highlights that with continued strong growth projected for the region, countries are encouraged to seek opportunities to strengthen fiscal sustainability while maintaining public investment efforts.
West African Economic And Monetary Union Waemu
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Author : International Monetary Fund. African Dept.
language : en
Publisher: International Monetary Fund
Release Date : 2014-03-21
West African Economic And Monetary Union Waemu written by International Monetary Fund. African Dept. 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 2014-03-21 with Business & Economics categories.
This West African Economic and Monetary Union (WAEMU) IMF staff report focuses on common policies for member countries. The region continued to experience a strong upswing in 2013, and the immediate outlook is for further vigorous growth and moderate inflation. Delays in implementing reforms, at both the national and regional levels, are the principal medium-term risk. It highlights that with continued strong growth projected for the region, countries are encouraged to seek opportunities to strengthen fiscal sustainability while maintaining public investment efforts.
West African Economic And Monetary Union
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Author : International Monetary Fund. African Dept.
language : en
Publisher: International Monetary Fund
Release Date : 2023-03-07
West African Economic And Monetary Union written by International Monetary Fund. African Dept. 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 2023-03-07 with Business & Economics categories.
The WAEMU’s post-Covid-19 recovery has so far withstood the new global and regional shocks, partly owing to supportive fiscal and monetary policies as well as relatively strong macroeconomic fundamentals over the previous decade. Growth prospects remain favorable, reserves—albeit declining—remain adequate, and the financial system appears to be resilient. However, the region faces important challenges associated with rising inflation, limited access to international capital markets, eroding external buffers, and regional security issues, in the presence of elevated global risks.
West African Economic And Monetary Union Staff Report On Common Policies For Member Countries Press Release Staff Report And Statement By The Executive For The Waemu
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Author : International Monetary
language : en
Publisher: International Monetary Fund
Release Date : 2022-03-02
West African Economic And Monetary Union Staff Report On Common Policies For Member Countries Press Release Staff Report And Statement By The Executive For The Waemu written by International Monetary 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 2022-03-02 with Business & Economics categories.
The WAEMU has, so far, demonstrated strong resilience to the Covid crisis. The economic rebound that started in the second half of 2020 firmed up in 2021, while fiscal and monetary policies remained supportive. External reserves have risen to comfortable levels and the financial system appears to be broadly sound. However, the region faces significant challenges to ensure the sustainability of macroeconomic policies, while supporting the economic recovery and navigating the uncertain outlook.
West African Economic And Monetary Union
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Author : International Monetary Fund. African Dept.
language : en
Publisher: International Monetary Fund
Release Date : 2015-04-13
West African Economic And Monetary Union written by International Monetary Fund. African Dept. 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 2015-04-13 with Business & Economics categories.
KEY ISSUES Context. The region continued to experience strong growth in 2014, led by the continued economic expansion in Cote d’Ivoire. The outlook is for further strong growth, subject to a range of downward risks, in particular political instability ahead of upcoming elections in several countries, and security issues in Mali and Niger. With an elevated fiscal deficit exerting pressure on the balance of payments and the regional financial market, delays in fiscal consolidation or structural reforms pose the main medium-term risks. Policy recommendations: • Fiscal consolidation. Safeguarding external stability in the region will require governments to adhere to their budget deficit reduction plans while maintaining public investment efforts, which will require increasing tax revenue and controlling current expenditure. • Monetary policy. Macroeconomic conditions do not warrant a tightening of monetary policy at this juncture. However, if fiscal deficits do not decline as envisaged, the BCEAO should consider increasing its policy rates. In the mean time, the BCEAO should very closely follow the evolution of the macro-prudential risks flowing from its sharp increase in commercial bank refinancing. • Financial stability. The WAEMU authorities should enforce existing prudential rules and raise standards to international best practice. Ongoing reforms go in the right direction but need to be accelerated. • Structural transformation and regional integration. Policies to promote structural transformation should focus on addressing weaknesses, such as the lack of education and training, finance, and supportive regulatory environments. Countries should refrain from using the possibility to deviate from the common external tariff of the Economic Community of West African States (ECOWAS) in force since January 1, 2015, in order to protect the gains from regional integration in WAEMU.