This paper analyses UMOA's (Union Monetaire de l'Afrique de l'Ouest) operations and its impact on the adjustment process. Importantly the currency of the union is pegged to the French franc, contributing to the stability of the system but making the nominal exchange rate exogenous. The first part of the paper outlines the features of UMOA's monetary system and the supposed methods of adjustments to external imbalances. The second section is a discussion...
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详细
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1985/01/31
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部门工作文件
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CPD8506
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1
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1
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2017/11/15
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Disclosed
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Adjustment policies in the Ivory Coast in the framework of the West African Monetary Union (UMOA)
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