IDEAS home Printed from https://ideas.repec.org/p/imf/imfwpa/1991-133.html
   My bibliography  Save this paper

The CFA Franc Zone: Currency Union and Monetary Standard

Author

Listed:
  • Mr. James M. Boughton

Abstract

The CFA franc zone comprises a group of countries in central and west Africa whose currencies have been firmly linked to the French franc since 1948. It combines the features of a currency union with those of an exchange rate peg, and an analysis of its effectiveness must examine both dimensions. Viewed from the perspective of a currency union among the African countries, it would appear that the zone would not constitute an optimum currency area. But when France is viewed as an integral part of the system, the benefits—including discipline, credibility, and stability in international competitiveness—become clearer.

Suggested Citation

  • Mr. James M. Boughton, 1991. "The CFA Franc Zone: Currency Union and Monetary Standard," IMF Working Papers 1991/133, International Monetary Fund.
  • Handle: RePEc:imf:imfwpa:1991/133
    as

    Download full text from publisher

    File URL: http://www.imf.org/external/pubs/cat/longres.aspx?sk=1009
    Download Restriction: no
    ---><---

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Robert J. Barro, 2013. "Inflation and Economic Growth," Annals of Economics and Finance, Society for AEF, vol. 14(1), pages 121-144, May.
    2. Rossum, M.T.A. & Tak, C.M., 1994. "The CFA franc zone : reason for participation," Serie Research Memoranda 0040, VU University Amsterdam, Faculty of Economics, Business Administration and Econometrics.
    3. Savvides, Andreas, 1998. "Inflation and monetary policy in selected West and Central African countries," World Development, Elsevier, vol. 26(5), pages 809-827, May.
    4. Mwita Chacha & Szymon Stojek, 2019. "Colonial ties and civil conflict intervention: Clarifying the causal mechanisms," Conflict Management and Peace Science, Peace Science Society (International), vol. 36(1), pages 42-62, January.
    5. Jayjit Roy, 2014. "On the robustness of the trade-inducing effects of trade agreements and currency unions," Empirical Economics, Springer, vol. 47(1), pages 253-304, August.
    6. Meshack Tjirongo, 1995. "Short-term stabilization versus long-term price stability: evaluating Namibia`s membership of the Common Monetary Area," Economics Series Working Papers WPS/1995-18, University of Oxford, Department of Economics.
    7. Koichi Hamada, 1998. "The Choice of International Monetary Regimes in a Context of Repeated Games," Open Economies Review, Springer, vol. 9(1), pages 417-446, January.
    8. Mamadou Wane & Paul Burkett & Robert Guell, 1996. "Economic growth and monetary union in sub-Saharan Africa: new evidence on the effects of CFA-zone membership," Applied Economics Letters, Taylor & Francis Journals, vol. 3(12), pages 769-773.
    9. Florence Bouvet & Roy Bower & Jason C. Jones, 2022. "Currency Devaluation as a Source of Growth in Africa: A Synthetic Control Approach," Eastern Economic Journal, Palgrave Macmillan;Eastern Economic Association, vol. 48(3), pages 367-389, June.
    10. Rainer Thiele & Manfred Wiebelt, 1993. "National and international policies for tropical rain forest conservation—A quantitative analysis for Cameroon," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 3(6), pages 501-531, December.
    11. Giorgioni, Gianluigi & Holden, Ken, 2002. "The crisis of the CFA Franc zone: the case of Cote d'Ivoire," Economic Modelling, Elsevier, vol. 19(4), pages 531-564, August.
    12. Medhora, Rohinton, 1995. "The allocation of seigniorage in the Franc Zone: The BEAC and BCEAO regions compared," World Development, Elsevier, vol. 23(10), pages 1781-1793, October.
    13. Oluwole Owoye, 1997. "Money and Economic Activity in Developing Countries: Evidence Based on Cointegration and Causality Tests," The American Economist, Sage Publications, vol. 41(1), pages 70-82, March.
    14. Uche, Chibuike U., 2001. "The politics of monetary sector cooperation among the Economic Community of West African States members," Policy Research Working Paper Series 2647, The World Bank.
    15. Mr. Plamen K Iossifov & Ms. Misa Takebe & Zaijin Zhan & Mr. Noriaki Kinoshita & Mr. Robert C York, 2009. "Improving Surveillance Across the CEMAC Region," IMF Working Papers 2009/260, International Monetary Fund.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:imf:imfwpa:1991/133. See general information about how to correct material in RePEc.

    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.

    We have no bibliographic references for this item. You can help adding them by using 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 RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Akshay Modi (email available below). General contact details of provider: https://edirc.repec.org/data/imfffus.html .

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

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.