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Pertinence de la dévaluation du Franc CFA de janvier 1994 : une évaluation par le taux de change réel d'équilibre. Cas de l'économie camerounaise

Listed author(s):
  • Jamal BOUOIYOUR
  • Oscar KUIKEU

A partir d’une estimation, du degré de distorsion du taux de change réel de l’économie camerounaise, sur la période 1980 – 2001 en données annuelles, nous jugerons de la pertinence de la décision du 11 janvier 1994, de dévaluer de 50% le Franc CFA (Fcfa) par rapport au Franc Français (FF). Nos résultats semblent confirmer l’idée aujourd’hui bien établie dans la littérature, d’un Fcfa globalement surévalué au cours de la période ayant précédée l’ajustement monétaire. In this paper, we estimate, over the period 1980 – 2001, in annual data, the size of distortion (misalignment), of Cameroon’s real exchange rate. This, in the goal to judge relevance of the decision of January 11, 1994, to devaluate of 50% Franc CFA (Fcfa) compared to the French franc (FF). Our results seem to confirm the idea established well today in the literature, of Fcfa overall overvalued during the period having preceded the devaluation.

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File URL: http://gtl.univ-pau.fr/travaux/838F_115350_2011_2012_11DocWcattDevaluationFrancCFAetTauxChangeReel_Cameroun_JBouoiyour_OKuikeu.pdf
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Paper provided by CATT - UPPA - Université de Pau et des Pays de l'Adour in its series Working Papers with number 2011-2012_11.

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Length: 30 pages
Date of creation: Jul 2012
Date of revision: Jul 2012
Handle: RePEc:tac:wpaper:2011-2012_11
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