Adjustment and economic performance under a fixed exchange rate: A comparative analysis of the CFA zone

World Development

Volumn 24, Issue 5, 1996, Pages 939-951

  Elbadawi, Ibrahim ^a   Majd, Nader ^b  

^a AFRICAN ECONOMIC RESEARCH CONSORTIUM   (Kenya)

^b WORLD BANK   (United States)

Author keywords

[No Author keywords available]

Indexed keywords

CFA FRANC; CFA FRANC ZONE; COMPARATIVE STUDY; COMPETITIVENESS; DEVELOPING COUNTRY; ECONOMIC PERFORMANCE; EXCHANGE RATE POLICY;

AFRICA, (SUB-SAHARA);

EID: 0030445431     PISSN: 0305750X     EISSN: None     Source Type: Journal    
DOI: 10.1016/0305-750X(96)00012-5     Document Type: Article

References (22)

1. Barnow, B. S., G. G. Cain, and A. S. Goldberg, "Issues in the analysis of selectivity bias," in W. E. Stromsdorfer and G. Farkas (Eds.), Evaluation Studies Review Annual (Beverly Hills: Sage, 1981), Vol. 5, pp. 43-59.
2. Caballero, Ricardo J., and Vittorio Corbo, "The effect of real exchange rate uncertainty on exports: Empirical evidence," World Bank Economic Review, Vol. 3, No. 2 (May 1989).
3. Chhibber, Ajay, "Africa's rising inflation: Causes, consequences, and cures," PRE Working Paper Series, No. 577 (Washington, DC: The World Bank, 1991).
4. Corbo, Vittorio, and Patricia Rojas, "Country performance and effectiveness of World Bank-supported adjustment programs," A Background Paper for the RAL II Report (Washington, D.C.: World Bank, 1990).
5. Corden, W. Max, "Exchange rate policy in developing countries," in Jaime de Melo and Andre Sapir (Eds.), Trade Policy Theory and Economic Reform (Oxford: Basil Black well, Ltd., 1991).
6. Devarajan, Shantayanan, and Jaime de Melo, "Adjustment with a fixed exchange rate: Cameroon, Cote d'Ivoire, and Senegal," World Bank Economic Review, Vol. 2, No. 2 (1987a).
7. Devarajan, Shantayanan, and Jaime de Melo, "Evaluating participation in African monetary unions: A Statistical Analysis of the CFA Zones," World Development, Vol. 15, No. 4 (1987b), pp. 483-496.
8. Devarajan, Shantayanan, and Jaime de Melo, "Membership in the CFA zone: Odyssean journey or trojan horse?" Paper presented for World Bank Conference on Africa Economic Issues (Washington, DC, World Bank, 1990).
9. Elbadawi, Ibrahim, "Macroeconomic stability and real exchange rates and price convergence in the CFA zone," Mimeo (Washington, DC: World Bank, 1991).
10. Elbadawi, I., and N. Majd, "Fixed parity of the exchange rate and economic performance in the CFA zone: A comparative study," PRE Working Paper Series, No. 830 (Washington, DC: World Bank, 1992).
11. Faini, R., and J. de Melo, "Adjustment, investment, and the real exchange rate in developing countries," PRE Working Paper Series, No. 473 (Washington, DC, World Bank, 1990).
12. Goldstein, M., and P. Montiel, "Evaluating fund stabilization programs with multicountry data: Some methodological pitfalls," IMF Staff Papers, Vol. 33, No. 2, pp. 314-44.
13. Guillaumont, P., S. Guillaumont, and P. Plane, "Participating in African monetary unions: An alternative evaluation," World Development, Vol. 16, No. 5 (1988a) pp. 569-576.
14. Guillaumont, P., and S. Guillaumont, "Zone franc et development African," Economica (1984).
15. Guillaumont, P., and S. Guillaumont, S., "Strategies de development compares: Zone franc et hors zone franc," Economica, (1986).
16. Hausman, J., "Specification tests in econometrics," Econometrica, Vol. 46, (1978), pp. 1251-1272.
17. Heckman, J., and J. Hotz, "Sample selectivity bias as a specification error," Econometrica, Vol. 47, (1989), pp. 153-161.
18. Honohan, Patrick, "No Monetary cooperation in the CFA zone," PRE Working Paper Series, No. 389 (Washington, DC: World Bank, 1990a).
19. Honohan, Patrick, "Price and monetary convergence in currency unions: The franc and rand zone," PRE Working Paper Series, No. 390 (Washington, DC: World Bank, 1990b).
20. Ndulu, Benno J., "Growth and adjustment in Sub-Saharan Africa," Paper presented at World Bank Africa Economic Issues Conference (Nairobi, Kenya: 1990).
21. Rojas, P., and L. Serven, "Estimating the effectiveness of World Bank adjustment lending," Mimeo (Washington, DC: World Bank, 1991).
22. Serven, L., and A. Solimano, "Private investment and macroeconomic adjustment in LDCs: Theory, country experiences and policy implications," Mimeo (Washington, DC: World Bank, 1991).