Suchergebnisse

AS 1992 APPROACHES, THE POLITICAL AND ECONOMIC AUTHORITIES OF THE FRANC ZONE STATES ARE BECOMING INCREASINGLY CONCERNED ABOUT THE IMPLICATIONS OF EUROPEAN ECONOMIC INTEGRATION. IN PARTICULAR, THE LIKELIHOOD OF THE ESTABLISHMENT OF A EUROPEAN MONETARY UNION HAS SPARKED A WAVE OF CONCERN. BUT THE ESTABLISHMENT OF EMU WOULD NOT REQUIRE THE RULES OF THE FRANC ZONE TO BE MODIFIED, EVEN IF IT WOULD IN SOME RESPECTS CHANGE ITS ECONOMIC IMPLICATIONS. THE EMU WOULD MAKE POSSIBLE, AND DESIRABLE, MONETARY COOPERATION BETWEEN THE AFRICAN SIGNATORIES OF THE LOME CONVENTION AND THE EC AS A WHOLE, WHICH WOULD REINFORCE THE FRANCO-AFRICAN MONETARY COOPERATION NOW IN EXISTENCE.

Also discusses the Caribbean and Pacific states.

The paper deals with the development strategies and performances of 12 franc zone African LDCs. Beside the actual rate of growth, the "relative growth performance" is considered; this performance, measured as a residual of a regression on exogenous factors, appears to be close to the average performance of other LDCs and better than that of African LDCs. The results are explaind by the direct influence of the foreign exchange regime of the zone and by its impact on economic policy. (DSE)