POLICY-MIX ET GAINS DE COOPERATION EN ZONE MONETAIRE HETEROGENE : Cas de la Zone Franc

This study evaluates the effectiveness of the mechanisms of stabilization of shocks in heterogeneous monetary zone, with an application on the Franc Franc zone. The study assesses the advantages and disadvantages of budget cooperation strategies against non-cooperation. It shows that fiscal policy cooperation strategies provide a better framework for stability. The empirical evaluation of these strategies involves calculating the coordination gains. It is therefore clear from the practice of current convergence policies that these pacts are not yet effective enough to create real convergence in the Franc zone