Exchange Rate Regimes and Revenue Performance in Sub-Saharan Africa

D L Bevan and G Chambas C S Adam
Authors registered in the RePEc Author Service: Christopher Adam () and David L. Bevan ()

QEH Working Papers from Queen Elizabeth House, University of Oxford

Abstract: It has been argued that the institutions of the CFA Franc zone may have reduced inflation but that they also induced misalignment of the real exchange rate and that this is the explanation for their dismal revenue performance. This paper uses a panel of 22 countries in sub-Saharan Africa to estimate revenue performance over the period from 1980 to 1996. It finds that the poor cumulative relative revenue performance of the franc zone countries is mainly attributable to differences in environmental and structural factors, and to their different responses to changes in the equilibrium real exchange rate, but that the misalignment of the real exchange rate also played a part.

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Related works:
Working Paper: Exchange Rate Regimes and Revenue Performance in Sub-Saharan Africa (2000)
Journal Article: Exchange rate regimes and revenue performance in Sub-Saharan Africa (2001)
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