CREDIT POLICY STRESS IN THE WEST AFRICAN ECONOMIC AND MONETARY UNION

Gilles Dufrénot ()

The Developing Economies, 2009, vol. 47, issue 4, 410-435

Abstract: This paper examines credit policy stress in the West African Economic and Monetary Union and provides evidence that a regional credit policy would not suit all the countries that are members of this currency union. Some countries obtain a higher volume of domestic credit when policy is conducted at a domestic level than they would in the context of a single regional policy. Furthermore, there are differences in the country‐specific reaction function to changes in the economic environment. To show the inappropriateness of a regional credit policy within the West African Economic and Monetary Union area, we compute credit stress indicators both for the countries and for the region taken as a whole. The stress indicators represent the gap between the optimal policies conducted at country and regional levels. Our study covers the period from 1980 to 2007.

Date: 2009
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
https://doi.org/10.1111/j.1746-1049.2009.00092.x

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:bla:deveco:v:47:y:2009:i:4:p:410-435

Ordering information: This journal article can be ordered from
http://www.blackwell ... bs.asp?ref=0012-1533

Access Statistics for this article

The Developing Economies is currently edited by Katsuji Nakagane

More articles in The Developing Economies from Institute of Developing Economies Contact information at EDIRC.
Bibliographic data for series maintained by Wiley Content Delivery ().