IDEAS home Printed from https://ideas.repec.org/
MyIDEAS: Login to save this paper or follow this series

Reserve Pooling in the Eastern Caribbean Currency Union and the CFA Franc Zone; A Comparative Analysis

  • Hazel Selvon
  • Tracy Polius
  • Oral Williams

The paper presents a comparison of the gains from the pooling of reserves, and hence reserve variability, in the Eastern Caribbean Currency Union (ECCU) and the CFA franc zone. The results indicate that countries within the ECCU area have achieved greater balance of payments protection than the CFA zone countries from the pooling of reserves. Unanticipated changes in the terms of trade lowered reserves in the CFA relative to the ECCU, which may reflect a greater reliance on primary commodities in the CFA compared with services in the ECCU.

If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.

File URL: http://www.imf.org/external/pubs/cat/longres.aspx?sk=15134
Download Restriction: no

Paper provided by International Monetary Fund in its series IMF Working Papers with number 01/104.

as
in new window

Length: 31
Date of creation: 01 Aug 2001
Date of revision:
Handle: RePEc:imf:imfwpa:01/104
Contact details of provider: Postal: International Monetary Fund, Washington, DC USA
Phone: (202) 623-7000
Fax: (202) 623-4661
Web page: http://www.imf.org/external/pubind.htm
Email:


More information through EDIRC

Order Information: Web: http://www.imf.org/external/pubs/pubs/ord_info.htm

References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:

as in new window
  1. John F. O. Bilson & Jacob A. Frenkel, 1979. "Dynamic Adjustment and the Demand for International Reserves," NBER Working Papers 0407, National Bureau of Economic Research, Inc.
  2. Paul Cashin & Catherine A. Pattillo, 2000. "Terms of Trade Shocks in Africa; Are they Short-Lived or Long-Lived?," IMF Working Papers 00/72, International Monetary Fund.
  3. Ernesto Hernández-Catá & C. A. François, 1998. "The West African Economic and Monetary Union; Recent Developments and Policy Issues," IMF Occasional Papers 170, International Monetary Fund.
  4. Stasavage, David, 1997. "The CFA Franc Zone and Fiscal Discipline," Journal of African Economies, Centre for the Study of African Economies (CSAE), vol. 6(1), pages 132-67, March.
  5. Paul Cashin & Hong Liang & C. John McDermott, 2000. "How Persistent Are Shocks to World Commodity Prices?," IMF Staff Papers, Palgrave Macmillan, vol. 47(2), pages 2.
  6. Ng, Yew-Kwang, 1973. "The Economic Theory of Clubs: Pareto Optimality Conditions," Economica, London School of Economics and Political Science, vol. 40(159), pages 291-98, August.
  7. Seraphin Fouda & David Stasavage, 2000. "The CFA Franc Zone After EMU: Status Quo, Reform, or Dissolution?," The World Economy, Wiley Blackwell, vol. 23(2), pages 221-233, 02.
  8. Lizondo, JoseSaul & Mathieson, Donald J., 1987. "The stability of the demand for international reserves," Journal of International Money and Finance, Elsevier, vol. 6(3), pages 251-282, September.
  9. Hamada, Koichi & Ueda, Kazuo, 1977. "Random Walks and the Theory of the Optimal International Reserves," Economic Journal, Royal Economic Society, vol. 87(348), pages 722-42, December.
  10. Oral Williams & Wayne Sandiford & Aldrin Phipps, 1999. "Banana price shocks and adjustment within a unified currency area," Applied Economics, Taylor & Francis Journals, vol. 31(11), pages 1455-1466.
Full references (including those not matched with items on IDEAS)

This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.

When requesting a correction, please mention this item's handle: RePEc:imf:imfwpa:01/104. See general information about how to correct material in RePEc.

For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Jim Beardow)

or (Hassan Zaidi)

If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

If references are entirely missing, you can add them using this form.

If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.

If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.

Please note that corrections may take a couple of weeks to filter through the various RePEc services.

This information is provided to you by IDEAS at the Research Division of the Federal Reserve Bank of St. Louis using RePEc data.