Ten Years After the CFA Franc Devaluation; Progress Toward Regional Integration in the WAEMU
This paper takes stock of the achievements toward integration in the West African Economic and Monetary Union (WAEMU) 10 years after the 1994 devaluation of the CFA franc. It investigates the lessons learned and evaluates progress toward economic convergence, examines the evolution of trade and competitiveness, and points to ways to remove impediments to greater integration. The paper concludes that a continued political commitment will be needed to overcome the important dissimilarities between WAEMU member countries that have limited the degree of convergence achieved to date, and to advance toward a full-fledged economic union.
|Date of creation:||01 Jul 2005|
|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
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.:
- Hinkle, Lawrence E. & Monteil, Peter J. (ed.), 1999. "Exchange Rate Misalignment: Concepts and Measurement for Developing Countries," OUP Catalogue, Oxford University Press, number 9780195211269.
- Bayoumi, Tamim & Ostry, Jonathan D, 1997.
"Macroeconomic Shocks and Trade Flows within Sub-Saharan Africa: Implications for Optimum Currency Arrangements,"
Journal of African Economies,
Centre for the Study of African Economies (CSAE), vol. 6(3), pages 412-444, October.
- Tamim Bayoumi & Jonathan David Ostry, 1995. "Macroeconomic Shocks and Trade Flows within Sub-Saharan Africa; Implications for Optimum Currency Arrangements," IMF Working Papers 95/142, International Monetary Fund.
- M. Ayhan Kose & Raymond Riezman, 2013.
"Trade shocks and macroeconomic fluctuations in Africa,"
World Scientific Book Chapters,in: International Trade Agreements and Political Economy, chapter 19, pages 369-394
World Scientific Publishing Co. Pte. Ltd..
- Kose, M. Ayhan & Riezman, Raymond, 2001. "Trade shocks and macroeconomic fluctuations in Africa," Journal of Development Economics, Elsevier, vol. 65(1), pages 55-80, June.
- M. Ayhan Kose & Raymond Riezman, 1999. "Trade Shocks and Macroeconomic Fluctuations in Africa," CSGR Working papers series 43/99, Centre for the Study of Globalisation and Regionalisation (CSGR), University of Warwick.
- M. Ayhan Kose & Raymond Riezman, 1999. "Trade Shocks and Macroeconomic Fluctuations in Africa," CESifo Working Paper Series 203, CESifo Group Munich.
- Paul R Masson & Ousmane Dore, 2002. "Experience with Budgetary Convergence in the WAEMU," IMF Working Papers 02/108, International Monetary Fund.
- Foroutan, Faezeh & Pritchett, Lant, 1993.
"Intra-sub-Saharan African Trade: Is It Too Little?,"
Journal of African Economies,
Centre for the Study of African Economies (CSAE), vol. 2(1), pages 74-105, May.
- Foroutan, Faezeh & Pritchett, Lant, 1993. "Intra - Sub - Saharan African trade : is it too little?," Policy Research Working Paper Series 1225, The World Bank.
- Karim Nashashibi & Stefania Bazzoni, 1994. "Exchange Rate Strategies and Fiscal Performance in Sub-Saharan Africa," IMF Staff Papers, Palgrave Macmillan, vol. 41(1), pages 76-122, March.
- Reinhart, Carmen & Rogoff, Kenneth, 2002.
"FDI to Africa: The role of price stability and currency instability,"
13872, University Library of Munich, Germany.
- Carmen Reinhart & Kenneth Rogoff, 2003. "FDI to Africa; The Role of Price Stability and Currency Instability," IMF Working Papers 03/10, International Monetary Fund.
When requesting a correction, please mention this item's handle: RePEc:imf:imfwpa:05/145. 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 references are entirely missing, you can add them using this form.