Economics at your fingertips  

La Zone franc en perspective

Patrick Guillaumont () and Sylviane Guillaumont Jeanneney

Revue d’économie du développement, 2017, vol. 25, issue 2, 5-40

Abstract: World economic uncertainty, difficulties met by Central Africa after the oil price shortfall, progress in trade integration in West Africa lead to a new thinking about Franc Zone prospects. Franc Zone is more than fifty years old, and it has known many reforms, which, while maintaining basic principles, namely a fixed rate of exchange and a guarantee of convertibility through the ??compte d?op?rations?? of the Central Banks (BCEAO and BEAC) at the French Treasury, have shown its capacity to adapt: Central Banks governance made African, Economic Unions set up, capital movements controlled, replacement of the French franc by euro, independence recognized to the Central Banks. Franc Zone may thus appear as a genuine and effective cooperation regime. It can still evolve, as done in the past, and at the request of African governments. Several perspectives are examined. Is it desirable to make the rate of exchange more flexible and how to make it?? Are the ??compte d?op?rations?? to be cancelled?or is it preferable to change their working modalities and the French participation to the governance of the Central Banks?? Is a geographical enlargement, in particular for WAEMU, compatible with maintening French support?? Is the name of the currencies to be changed?? The paper considers the benefits and difficulties of the various possible answers. Codes JEL?: E58, F45, O19.

Keywords: Franc Zone; CFA francs; monetary coopération; West Africa; Central Africa; regional integration; exchange rate regime (search for similar items in EconPapers)
JEL-codes: E58 F45 O19 (search for similar items in EconPapers)
Date: 2017
References: Add references at CitEc
Citations: Track citations by RSS feed

Downloads: (external link) (application/pdf) (text/html)

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:

Access Statistics for this article

More articles in Revue d’économie du développement from De Boeck Université Contact information at EDIRC.
Bibliographic data for series maintained by Jean-Baptiste de Vathaire ().

Page updated 2021-09-10
Handle: RePEc:cai:edddbu:edd_312_0005