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Publications (3)
Working Paper
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– Estimating Interest Rate Rules for the BCEAO
This paper examines to what extent the central bank for the West African Economic and Monetary Union (BCEAO) has used interest rate policy in response to domestic economic developments. We show that while in the long run the BCEAO matches changes in French (Eurozone) interest rates one for one, in...
Working Paper
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– Country-level Credit Policy
This paper examines whether the BCEAO has made use of the various policy instruments at its disposal for steering credit in the individual CFA zone member countries to complement interest rate policy at the zone level. We estimate whether private sector credit has responded systematically to...
Working Paper
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The paper identifies and examines those factors that have affected growth in the CFA franc zone countries relative to the non CFA countries. It examines the special arrangements between franc zone countries and France, which give some advantages that seem not to have created a more rapid and...
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