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Improving Surveillance Across the CEMAC Region

Author

Listed:
  • Mr. Plamen K Iossifov
  • Ms. Misa Takebe
  • Zaijin Zhan
  • Mr. Noriaki Kinoshita
  • Mr. Robert C York

Abstract

In this paper, we consider the design of the surveillance, and, in particular, the fiscal criteria in the Central African Economic and Monetary Community (CEMAC) with the view to ensuring they are consistent with internal and external sustainability. This consistency is important within a monetary union because fiscal policy is the primary instrument through which national governments can influence macroeconomic performance. We comment on how surveillance might be improved by broadening the region's current criteria through alternative fiscal indicators, some focus on the scope and nature of external shocks, and attention to the consistency of policies in assuring the viability of the union and its fixed exchange rate regime.

Suggested Citation

  • 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.
    • Handle: RePEc:imf:imfwpa:2009/260
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    References listed on IDEAS

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    Cited by:

    1. NANA DAVIES, Charles, 2018. "Sources of Macroeconomic Fluctuations in a Franc Zone Country: A Bayesian estimation," MPRA Paper 99998, University Library of Munich, Germany.
    2. repec:ilo:ilowps:488131 is not listed on IDEAS
    3. NANA DAVIES, Charles, 2020. "Land Collateral and Rule-of-Thumb Households in a Franc Zone Country: A Bayesian Appraisal," MPRA Paper 100000, University Library of Munich, Germany.
    4. International Monetary Fund, 2012. "Cameroon: Staff Report for the 2012 Article IV Consultation," IMF Staff Country Reports 2012/237, International Monetary Fund.
    5. Mr. Gaston K Mpatswe & Mr. Sampawende J Tapsoba & Mr. Robert C York, 2011. "The Cyclicality of Fiscal Policies in the CEMAC Region," IMF Working Papers 2011/205, International Monetary Fund.
    6. Issouf Samaké & Ms. Priscilla S Muthoora & Mr. Bruno Versailles, 2013. "Fiscal Sustainability, Public Investment, and Growth in Natural Resource-Rich, Low-Income Countries: The Case of Cameroon," IMF Working Papers 2013/144, International Monetary Fund.
    7. Martin Wafula Nandelenga & Mark J Ellyne, 2020. "Fiscal Rules and the Compliance debate: Why do Countries adopt Rules and fail to comply?," ERSA Working Paper Series, Economic Research Southern Africa, vol. 0.
    8. Ray, Nikhil. & Velasquez, Agustin. & Islam, Iyanatul,, 2015. "Fiscal rules, growth and employment : a developing country perspective," ILO Working Papers 994881313402676, International Labour Organization.

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