Adjustment with a Fixed Exchange Rate: Cameroon, Côte d'Ivoire, and Senegal

Shantayanan Devarajan and Jaime de Melo

Chapter 4 in Developing Countries in the World Economy, 2015, pp 83-123 from World Scientific Publishing Co. Pte. Ltd.

Abstract: Like most developing countries, Cameroon, Côte d'Ivoire, and Senegal were subjected to the external shocks of commodity booms and oil price hikes in the 1970s. As members of the Communauté Financière Africaine (CFA) (a monetary union with France), however, these countries could not devalue their nominal exchange rate to adjust to the macroeconomic imbalances that followed. The purpose of this article is to interpret the adjustment experiences of these three countries in light of this and other institutional constraints.

Keywords: Trade Barriers and Market Structure; Quantitative Restrictions; Political Economy and Migration; Trade and the Environment (search for similar items in EconPapers)
Date: 2015
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Journal Article: Adjustment with a Fixed Exchange Rate: Cameroon, Cote d'Ivoire, and Senegal (1987)
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