Le policy mix de la zone UEMOA : leçons d'hier, réflexions pour demain
More than fifteen years after the creation of the West African Economic and Monetary Union and in the year of the fiftieth anniversary of the West African Monetary Union, it seems advisable to make an assessment of the connection between the common monetary policy, whose implementation is within the competence of the West African States Central Bank (BCEAO) that is responsible for the management of the CFA franc, and the WAEMU Commission which is entrusted with the coordination of national budgetary policies. A close examination shows that the goal of economic growth was sacrificed in the fight against inflation. Finally, it would be useful to improve WAEMU?s Policy Mix and move towards a more flexible FCFA/Euro parity and an economic Government established on a fiscal federalism that needs to be promoted.
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