The Cfa Franc Zone And The Emu

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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.

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.

European Economic Integration And The Franc Zone Without Special Title

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Author : Allechi M'bet
language : en
Publisher:
Release Date : 1993

European Economic Integration And The Franc Zone Without Special Title written by Allechi M'bet and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1993 with Europe categories.

The Cfa Franc Zone

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Author : Gianluigi Giorgioni
language : en
Publisher:
Release Date : 2013

The Cfa Franc Zone written by Gianluigi Giorgioni and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013 with categories.

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 convertibility is under threat due to the harder budgetary commitments imposed on France by its membership of the Eurozone and the dwindling political interest in the CFA Franc Zone shown in France. The policy credibility is becoming costlier as evidenced by output-inflation trade-offs, which, although still more favourable than in comparable sub-Saharan African countries, have been declining since the 1994 devaluation period.

The Role Of The Euro In Sub Saharan Africa And In The Cfa Franc Zone

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Author : Martin Hallet
language : en
Publisher:
Release Date : 2008

The Role Of The Euro In Sub Saharan Africa And In The Cfa Franc Zone written by Martin Hallet and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2008 with Euro categories.

The paper analyses different aspects of the role that the euro is currently playing in sub- Saharan Africa (SSA) and in the CFA franc zone of West and Central Africa. As similar contributions on the role of the euro in other global regions, the paper served as background information for the analysis in European Commission (2008) on the international role of the euro for the assessment of 10 years of European Economic and Monetary Union ("EMU@10"). Chapter 1 of this paper examines the role of the euro as an international currency in Sub-Saharan Africa. Chapter 2 assesses the effects that the CFA franc's peg to the euro had on macroeconomic stability, trade integration and international competitiveness of the CFA franc zone. Chapter 3 looks at how the EU's multilateral surveillance framework served as a blueprint for multilateral surveillance in the CFA franc zone. Chapter 4 summarises and concludes.

Will The Euro Trigger More Monetary Unions In Africa

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Author : Patrick Honohan
language : en
Publisher:
Release Date : 2000

Will The Euro Trigger More Monetary Unions In Africa written by Patrick Honohan and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2000 with Euro categories.

Exchange Rate Arrangements In The Cfa Franc Zone

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Author : David Leland Dibley
language : en
Publisher:
Release Date : 1998

Exchange Rate Arrangements In The Cfa Franc Zone written by David Leland Dibley and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1998 with Wechselkurs / Wechselkurspolitik / Franc-Zone categories.

Linkages In Price Level And Inflation Rate Between Cfa Franc Zone Countries And France

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Author : Fondo Monetario Internacional
language : es
Publisher:
Release Date : 1994

Linkages In Price Level And Inflation Rate Between Cfa Franc Zone Countries And France written by Fondo Monetario Internacional and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1994 with categories.

Emu And The Developing Countries

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Author : Benjamin J. Cohen
language : en
Publisher:
Release Date : 2000

Emu And The Developing Countries written by Benjamin J. Cohen and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2000 with Developing countries categories.