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UNU-WIDER What can the European Central Bank learn from Africa?

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What can the European Central Bank learn from Africa?

The 14-member Franc Zone in West and Central Africa represents the largest monetary union in the southern hemisphere, predating the European Monetary Union by decades. With monetary unions planned for other parts of Africa in the near future, Macroeconomic Policy in the Franc Zone focuses on some of the key challenges facing the Franc Zone today: - how does a single currency area meet the needs of such a wide range of countries facing very different economic conditions? How close is the Franc Zone to being an 'Optimum Currency Area'? - how well do the institutions of the Franc Zone manage monetary policy in the area? Have they been able to adapt the 'best practice' of OECD central banks to African conditions? - how do the policies of the Franc Zone impact on the poorest and most disadvantaged communities in the region?
Publisher:
UNU-WIDER
Series:
UNU Policy Brief
Volume:
04/2005
Title:
What can the European Central Bank learn from Africa?
Authors:
David Fielding
Publication date:
December 2005
ISSN Web:
1814-8026
ISBN Printed:
9280830066
ISBN Web:
9280830074
ISBN 13 Print:
9789280830064
ISBN 13 Web:
9789280830071
Copyright holder:
© UNU
Copyright year:
2005
Keywords:
CFA Zone, monetary union, Francophone Africa
JEL:
N27, E42, R11
Project:
Long-term Development in the CFA-zone Countries of Sub-Saharan Africa
Sponsor:
The governments of Denmark (Royal Ministry of Foreign Affairs), Finland (Ministry for Foreign Affairs), Norway (Royal Ministry of Foreign Affairs), Sweden (Swedish International Development Cooperation Agency-Sida) and the United Kingdom (Department for International Development).
Format:
online and printed copies

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