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Evaluating participation in an African monetary union : a statistical analysis of the CFA zone (anglais)

Thirteen African nations are engaged in two monetary unions with France often referred to as the CFA Zone. Despite the acknowledged benefits of Zone membership such as convertible currency, pooled resources and greater monetary and fiscal "discipline," several observers have questioned whether particular aspects of the Zone have impeded its members' growth. This paper addresses that question by testing whether CFA Zone countries had different GNP...
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