This book provides an empirical analysis of economic and political structures impacting the CFA franc zone. Concise and practical chapters explore the history of the CFA franc zone, challenges to development, geopolitical issues, the importance of flexible exchanges rates, growth trends, and the...

1. The Context -- 2. The Institutional Arrangements that Govern the Zone -- 3. History of the CFA Zone -- 4. The Macron and Ouattara Reform of the CFA -- 5. The Problem with the CFA Zone -- 6. Reforming and Modernizing the Zone with Currency Flexibility -- 7. The Roadmap for a Better Future --...

This study proposes an analytical framework towards behavioral political economy of institutional change. It considers institutional changes as central government’s choices under uncertainty, which are largely driven by the strategic outcomes in a behavioral coordination game between local...