Ten Years After the CFA Franc Devaluation; Progress toward Regional Integration in the Waemu

This paper takes stock of the achievements toward integration in the West African Economic and Monetary Union (WAEMU) 10 years after the 1994 devaluation of the CFA franc. It investigates the lessons learned and evaluates progress toward economic convergence, examines the evolution of trade and competitiveness, and points to ways to remove impediments to greater integration. The paper concludes that a continued political commitment will be needed to overcome the important dissimilarities between WAEMU member countries that have limited the degree of convergence achieved to date, and to advance toward a full-fledged economic union.

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Year of publication:	2005-07-01
Authors:	Boogaerde, Pierre van den ; Tsangarides, Charalambos G.
Institutions:	International Monetary Fund (IMF)
Subject:	West African Economic and Monetary Union \| Trade Integration Mechanism \| reer \| monetary union \| terms of trade \| tradable goods \| export prices \| total exports \| exports of goods \| real effective exchange rate \| trade openness \| regional integration \| intraregional exports \| import prices \| export price \| regional trade \| price stability \| per capita income \| member country \| export diversification \| economic integration \| export price index \| external trade \| external shocks \| commodity prices \| trade shocks \| tariff rates \| indirect taxes \| international trade \| trade flows \| domestic savings \| export costs \| commodity exports \| export good \| trade liberalization \| world exports \| economic convergence \| export market \| export shares \| average tariff \| trade creation \| exported good \| border trade \| export commodities \| external tariffs \| venture capital \| output growth \| world prices \| neighboring countries \| countries ? exports \| conditional convergence \| trade barriers \| idiosyncratic shocks \| trade theory \| share of exports \| domestic price \| domestic prices \| export base \| competitive economies \| exporters \| competitive position \| external tariff \| global trade \| world economy \| oil prices \| terms of trade shocks \| price of imports \| conditional convergence hypothesis \| trade diversion \| international markets \| factor markets \| multilateral surveillance \| exchange rate regime \| export commodity prices \| trade arrangements \| trade policies \| value-added tax \| optimum currency areas \| trade patterns \| preferential trade arrangements \| current account deficit \| world market \| common labor market \| elimination of tariffs \| export market shares \| export commodity \| increased openness \| mutual funds \| average tariff rates

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Extent:	application/pdf
Series:	IMF Working Papers.
Type of publication:	Book / Working Paper
Language:	English
Notes:	The text is part of a series IMF Working Papers Number 05/145 3 pages long
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005263827