THE ROLE OF REGIONAL TRADE IN AGRICULTURAL TRANSFORMATION: THE CASE OF WEST AFRICA FOLLOWING THE DEVALUATION OF THE CFA FRANC

In this paper, we analyze the progress made in realizing this anticipated boost in economic growth for three agricultural subsectors: cereals, livestock/meat, and horticultural products. We begin with a discussion of the agricultural sector in general, based on an overview of the trends in macroeconomic indicators following the devaluation (section 2). Section 3 examines changes in the trading environment and the reaction of markets to these changes. Section 4 describes the responses of producers and traders to the new opportunities offered by the devaluation; the analysis looks at input/output price trends, trading opportunities and their impact on production. We conclude in section 5 by evaluating the results obtained, drawing conclusions about the devaluation's impact on agricultural transformation, and offering recommendations concerning future directions.