Soixante-dix ans de franc CFA : quel bilan pour les 14 pays de la zone franc ?
Seventy years of CFA franc: which assessment for the 14 countries of the area?

Author(s): Henri-Louis Vedie
Subject(s): Financial Markets
Published by: Wydawnictwo Uniwersytetu Ekonomicznego w Poznaniu
Keywords: monetary area;inflation;growth;balance of payment;debt;CFA franc zone;
Summary/Abstract: For seventy years, CFA franc is the common currency of 14 africain countries. Beyond africain continent, CFA franc is also the currency of Comoro islands. If we compare economic performance of all countries, members of Economic and Monetary Union of West Africa (XOF) and members of Economic and Monetary Communauty of Central Africa (CEMA) we compare performance of the 14 CFA countries, but also performance of 11 others, often speaking english, but not having “franc CFA” or common currency. Analysis of all results, specially monetary results (inflation for exemple), confirm – overall– the theory of Robert Mundell, about monetary area. But analysis of the growth of all these 25 countries show also that the best results are for the 14 franc CFA countries and not for the 11 others, refusing common currency and/or franc CFA.

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