Part II Capacity to Adjust to Changes in External Conditions
Author:
Mr. Yasser Abdih
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Language:
English
Print Publication Date:
02 Apr 2008
Keywords:
BOOK; CFA franc; WAEMU country; CEMAC country; WAMZ country; CEMAC member country; Real effective exchange rates; Imports; Tariffs; Real exchange rates; Terms of trade; Sub-Saharan Africa; West Africa; Africa; Asia and Pacific; East Asia

Abstract

The debate in the literature on structural adjustment and macroeconomic stabilization has emphasized the crucial role played by the real exchange rate, given its importance for export promotion and for the generation of optimal paths of output and employment.1 It is argued that successful developing countries owe much of their success to having maintained their exchange rate at an “appropriate” level. Further, it is believed that a distinguishing feature of East and Southeast Asia’s success with sustainable growth has been the consistent avoidance of overvaluation.2

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Cover The CFA Franc Zone
The CFA Franc Zone
Common Currency, Uncommon Challenges
ISBN:
9781589066755
Publication Date:
02 Apr 2008
Publisher:
International Monetary Fund
DOI:
https://doi.org/10.5089/9781589066755.071
Pages:
410