The CFA Franc Zone: Currency Union and Monetary Standard

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. Vi...

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Bibliographic Details
Main Author: Boughton, James M. (Author)
Format: Electronic eBook
Language:English
Published: Washington, D.C International Monetary Fund 1991
Series:IMF Working Papers Working Paper No. 91/133
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Summary: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
Physical Description:1 Online-Ressource (60 p)
ISBN:1451931999
9781451931990