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Le régime monétaire de la zone franc pacifique

Author

Listed:
  • Jean-David Naudet

    (IEOM - Institut d’Émission d’Outre-Mer, UNC - Université de la Nouvelle-Calédonie)

Abstract

This scientific document analyzes the foundations and specificities of the monetary regime within the Pacific Franc Zone. The author first defines the concepts of exchange rate and monetary policies, while distinguishing systems based on exchange rate stability from those prioritizing inflation control. He highlights that small island economies often opt for a fixed peg to guarantee their financial credibility. The study highlights the crucial role of the French Treasury, which ensures the unlimited convertibility of the CFP franc with the euro via an operations account. Finally, the text demonstrates how this unique framework protects New Caledonia and French Polynesia from financial crises while supporting the local economic fabric through rediscounting

Suggested Citation

  • Jean-David Naudet, 2019. "Le régime monétaire de la zone franc pacifique," Post-Print hal-05615191, HAL.
    • Handle: RePEc:hal:journl:hal-05615191
    Note: View the original document on HAL open archive server: https://hal.science/hal-05615191v1
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    File URL: https://hal.science/hal-05615191v1/document
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