Essai sur la stabilité monétaire: la Cyclicité et la contra cyclicité de l’activité productive comme critères de cette stabilité. Cas de la Communauté économique et Monétaire de l’Afrique centrale (CEMAC)[Essay on monetary stability: the cyclicity and the contra cyclicity in production as favorable determinants of preserving this stability. The case of cfa franc area in central Africa (CEMAC)]

Stating and discussing on preserving Monetary stability is other thing equal an Old and interesting debate for African countries States where since the coming of an African Monetary Fund this ambition to have a common Currency unit at the scale of the geographic area is an unbelieve and unprecedented challenge for here governments States. Kuikeu (2020) starts on evaluating some of the challenges linked to this aim as the determinants for preversing and achieving this kind of stability. Nevertheless, for central African States of cfa franc zone contrary to that in Europe the Monetary integration is the achieving realization of the integration process as revealed by the Advent of Brexit. Therefore, there is a Rationale for economic aspect in this goal of preserving Monetary stability? In particular, for African countries States what dominates much more as determinants in achieving this goal between the Region’s relative abundance in Natural Resources (or the contracyclicity aspect of the production process coming from the dutch disease hypothesis) and the attached concept of leading economy into the integration process (the suppose cyclicity aspect in the production process). These are the main questions we are trying to answer, here. Globally speaking, considering the Obtained Results the VAR Methodology is a suitable and favorable engine to achieve this kind of exercise.