Étude comparative du comportement cyclique des économies de la zone franc CFA

Comparative study of the cyclical behaviour of CFA franc zone economies

François Patrick Dr. Menounga

MPRA Paper from University Library of Munich, Germany

Abstract: Economies generally face exogenous and endogenous shocks that generate economic cycles, characterized by phases of expansion and recession. This article presents a comparative study of the economic cycles of African countries in the CFA Franc Zone (This article presents a comparative study of the economic cycles of African countries in the Franc Zone (WAEMU and CEMAC) from 1981 to 2022. Using the non-parametric method developed by Bry ans Boschan (1971), we identify economic turning points (peaks and troughs). The findings reveal that these economies experience high cyclical instability. CEMAC countries, more dependent on oil, display more erratic cycles. In contrast, UEMOA countries appear more resilient and responsive to economic stimulus policies. The study highlights the relative effectiveness of reforms implemented after the 1994 devaluation. It ultimately recommends enhanced regional integration to strengthen the collective capacity to respond to future economic shocks.

Keywords: economic cycle; shocks; resilience; expansion; recession. (search for similar items in EconPapers)
JEL-codes: C4 F4 G28 (search for similar items in EconPapers)
Date: 2026-02
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Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:128822

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