Skip to Main content Skip to Navigation
Journal articles

Les francs CFA sont-ils à leur niveau d’équilibre ?

Abstract : In the Franc Zone, the fixed parity of the CFA franc is debated again, while the eco, a substitute currency, is to be announced in the WAEMU. We investigate the question about potential exchange rate misalignments in the two monetary unions (WAEMU, CEMAC) of this institutional space. The diagnosis is established by reference to two theories and from a panel of 99 countries over the period 1990-2016: the PPP exchange rate level adjusted for the productivity level and the Behavioural Equilibrium Exchange rate (BEER). These two theoretical criteria provide different results across unions, and country-members or sub-periods. Results are robust to the definition of the productivity measurement and to the sample size. Overall, the end of the period does not suggest misalignments that could justify a change of the parity although national heterogeneities arise.
Document type :
Journal articles
Complete list of metadata

https://hal.uca.fr/hal-03701034
Contributor : Patrick Plane Connect in order to contact the contributor
Submitted on : Tuesday, June 21, 2022 - 3:49:14 PM
Last modification on : Thursday, June 30, 2022 - 3:47:03 AM

File

 Restricted access
To satisfy the distribution rights of the publisher, the document is embargoed until : 2023-06-21

Please log in to resquest access to the document

Identifiers

Collections

Citation

Patrick Plane, Camille da Piedade. Les francs CFA sont-ils à leur niveau d’équilibre ?. Revue Française d'Economie, Association Française d'Économie, 2022, XXXVI (4), pp.87-127. ⟨10.3917/rfe.214.0087⟩. ⟨hal-03701034⟩

Share

Metrics

Record views

12