[eng] From nominal to real depreciation : the factors of african devaluations effectiveness. . Many developing countries used devaluations in order to depreciate their real exchange rate. The degree of devaluation effectiveness, i.e. how much nominal depreciation leads to real depreciation, is...

[eng] This article argues that the effectiveness of the CFA francs devaluation was greater in Cameroon than in Cote d'Ivoire unlike the opinion which is generaly drawn from the evolution of the real effective exchange rates. This conclusion is based on the change of wages, international prices,...

[eng] Economic policy with currency substitution. . Monetary theory usually assumes that only one money circulates in each economy. However the substitution of foreign currencies to the national one is quite a common practice in indus trial as well as in developing countries. Its implications...

This article contributes to the debate on aid volatility and argues that official assistance copes with exogenous output shocks in recipient countries and stabilizes resources available for the financing of consumption, investment and net trade. Stabilizing aid is effective in aid-dependent and...

[eng] Since December the 18th firms can issue commercial papers ; moreover, starting in 1986, ail économie agents can buy Treasury bills registered in a current account in the Central Bank, which bills used to be exclusively at the disposai of financial institutions. Thèse financial...

[fre] En dépit du flottement des grandes monnaies du monde, la question de l'opportunité d'une dévaluation reste d'actualité pour de nombreuses économies, notamment dans les pays en voie de développement engagés avec le concours du Fonds monétaire et de la banque mondiale dans un «...

Deforestation is a phenomenon that has largely been concentrated in the developing world. We construct a theoretical model of deforestation that focuses on the factors affecting the incentives to transform forested land into agricultural land. We show that: (i) lower discount rates and stronger...

Following a series of debt cancellations, the public debt of many developing countries has reached low levels. These countries are being urged to extent public spending to reach The Millennium Development Goals (MDGs), but can not exclusively rely on external financing. Consequently, is an...

Developing countries are being urged to extent public spending to reach The Millennium Development Goals (MDGs). Following a series of debt cancellations, the public debt of many developing countries has reached low levels, so that external borrowing is a plausible option. However, developing...

We examine whether absorptive capacity represents a valid reason to reject the proposal of a large aid increase in order to help poor countries to move out of the underdevelopment trap. We consider absorptive capacity, the set of limits to an effective use of aid inflows, under for main aspects:...