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Analyse économétrique de l'impact du régime de change sur la croissance économique des pays de la CEDEAO

Author

Listed:
  • David Dione

    (LARSES - Laboratoire d'Etude et de Recherche en Sciences Economiques et Sociales - UASZ - Université Assane Seck de Ziguinchor [Sénégal])

  • Babacar Ndiaye

Abstract

Comprising 15 countries with different currencies—a situation that hinders trade among member states due to high transaction costs—ECOWAS plans to create a single currency. With this in mind, we have the opportunity to reflect on the importance of choosing an appropriate exchange rate regime and its implications for the region's economy. Although economic theory suggests that the choice of exchange rate regime affects economic growth, it does not clearly establish which exchange rate regime is most conducive to growth. Thus, our approach aims to help guide the choice of exchange rate regime toward the one that best aligns with the structural characteristics (both internal and external) of ECOWAS countries. The economic analysis is based on the estimation of a growth equation covering all ECOWAS countries except Cape Verde and Liberia, spanning the period from 1975 to 2020. Our results show that a fixed exchange rate regime, through the degree of trade openness and inbound FDI flows, is associated with higher economic growth.

Suggested Citation

  • David Dione & Babacar Ndiaye, 2025. "Analyse économétrique de l'impact du régime de change sur la croissance économique des pays de la CEDEAO," Post-Print hal-05690915, HAL.
    • Handle: RePEc:hal:journl:hal-05690915
    DOI: 10.5281/zenodo.16994627
    Note: View the original document on HAL open archive server: https://hal.science/hal-05690915v1
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