Dévaluation du Franc CFA et équilibre des paiements courants

Bernard Conte (bd.conte@gmail.com)

Documents de travail from Groupe d'Economie du Développement de l'Université Montesquieu Bordeaux IV

Abstract: The 1994 dévaluation of the CFA-franc seems to be the main event of the decade in French-speaking Africa.For the main actors, Africans or foreigners, the achievements are in accordance with their expectations.In others words, it was believed that the dévaluation would be successful and, in the medium term, there would be no need to fear any other measure of this kind.This paper focuses on changes in externat competitiveness and on the différent components of the current account.It leads to the qualification of the optimistic opinions generally expressed.Despite a favourable external contexte results reached by the African countries of the franc zone are fragile.Furthermore, deep disparities existing in the performance of différent nations are able to generate centrifugai forces whose intensity could be critical, in the case of insufficient convergence in economic policies. (Full text in French)

JEL-codes: E31 E52 O23 (search for similar items in EconPapers)
Pages: 13 pages
Date: 1997-09
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Persistent link: https://EconPapers.repec.org/RePEc:mon:ceddtr:20

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