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Strengthening the West African Economic and Monetary Union
			: The Role of Fiscal and Market Institutions in Economic Stabilization

Strengthening the West African Economic and Monetary Union : The Role of Fiscal and Market Institutions in Economic Stabilization »

Volume: 15

Series: Departmental Papers / Policy Papers

Author(s): Olivier Basdevant , Patrick Imam , Tidiane Kinda , and Aleksandra Zdzienicka

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 23 October 2015

DOI: http://dx.doi.org/10.5089/9781513567334.087

ISBN: 9781513567334

Keywords: Fiscal rules and institutions, West African Economic and Monetary Union, External shocks, Regional shocks, Economic stabilization, Economic integration, fiscal, debt, insurance, deficit

West African Economic and Monetary Union (WAEMU) countries face a well-known dilemma between the need to provide shock-smoothing mechanisms and the lack of adequate mechanisms to do so. WAEMU countries are subject...

I. Executive Summary

I. Executive Summary »

Source: Strengthening the West African Economic and Monetary Union : The Role of Fiscal and Market Institutions in Economic Stabilization

Series: Departmental Papers / Policy Papers

Author(s): Olivier Basdevant , Patrick Imam , Tidiane Kinda , and Aleksandra Zdzienicka

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 23 October 2015

ISBN: 9781513567334

Keywords: Fiscal rules and institutions, West African Economic and Monetary Union, External shocks, Regional shocks, Economic stabilization, Economic integration, fiscal, debt, insurance, deficit

West African Economic and Monetary Union (WAEMU) countries 1 face a well-known dilemma between the need to provide shock-smoothing mechanisms...

II. Strengthening WAEMU Fiscal Rules

II. Strengthening WAEMU Fiscal Rules »

Source: Strengthening the West African Economic and Monetary Union : The Role of Fiscal and Market Institutions in Economic Stabilization

Series: Departmental Papers / Policy Papers

Author(s): Olivier Basdevant , Patrick Imam , Tidiane Kinda , and Aleksandra Zdzienicka

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 23 October 2015

ISBN: 9781513567334

Keywords: Fiscal rules and institutions, West African Economic and Monetary Union, External shocks, Regional shocks, Economic stabilization, Economic integration, fiscal, debt, insurance, deficit

One of the main difficulties with fiscal rules is preserving some room for flexibility without compromising the rules. This is particularly relevant for WAEMU countries, as large and frequent sh...

III. Creating Public Insurance Mechanisms

III. Creating Public Insurance Mechanisms »

Source: Strengthening the West African Economic and Monetary Union : The Role of Fiscal and Market Institutions in Economic Stabilization

Series: Departmental Papers / Policy Papers

Author(s): Olivier Basdevant , Patrick Imam , Tidiane Kinda , and Aleksandra Zdzienicka

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 23 October 2015

ISBN: 9781513567334

Keywords: Fiscal rules and institutions, West African Economic and Monetary Union, External shocks, Regional shocks, Economic stabilization, Economic integration, fiscal, debt, insurance, deficit

Frequent and large asymmetric shocks and limited effectiveness of shock-smoothing mechanisms challenge the stability of WAEMU economies. A public insurance mechanism—even in its less centralized...

IV. Developing and Strengthening Financial Insurance Mechanisms

IV. Developing and Strengthening Financial Insurance Mechanisms »

Source: Strengthening the West African Economic and Monetary Union : The Role of Fiscal and Market Institutions in Economic Stabilization

Series: Departmental Papers / Policy Papers

Author(s): Olivier Basdevant , Patrick Imam , Tidiane Kinda , and Aleksandra Zdzienicka

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 23 October 2015

ISBN: 9781513567334

Keywords: Fiscal rules and institutions, West African Economic and Monetary Union, External shocks, Regional shocks, Economic stabilization, Economic integration, fiscal, debt, insurance, deficit

Although shock-smoothing via credit and financial market channels is increasing over time, it has remained limited. The role of capital markets and private credit channels has been marginal in o...

Strengthening the West African Economic and Monetary Union: The Role of Fiscal and Market Institutions in Economic Stabilization

Strengthening the West African Economic and Monetary Union: The Role of Fiscal and Market Institutions in Economic Stabilization »

Source: Strengthening the West African Economic and Monetary Union : The Role of Fiscal and Market Institutions in Economic Stabilization

Series: Departmental Papers / Policy Papers

Author(s): Olivier Basdevant , Patrick Imam , Tidiane Kinda , and Aleksandra Zdzienicka

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 23 October 2015

ISBN: 9781513567334

Keywords: Fiscal rules and institutions, West African Economic and Monetary Union, External shocks, Regional shocks, Economic stabilization, Economic integration, fiscal, debt, insurance, deficit

West African Economic and Monetary Union (WAEMU) countries face a well-known dilemma between the need to provide shock-smoothing mechanisms and the lack of adequate mechanisms to do so. WAEMU countries are subject...

Back Matter

Back Matter »

Source: Strengthening the West African Economic and Monetary Union : The Role of Fiscal and Market Institutions in Economic Stabilization

Series: Departmental Papers / Policy Papers

Author(s): Olivier Basdevant , Patrick Imam , Tidiane Kinda , and Aleksandra Zdzienicka

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 23 October 2015

ISBN: 9781513567334

Keywords: Fiscal rules and institutions, West African Economic and Monetary Union, External shocks, Regional shocks, Economic stabilization, Economic integration, fiscal, debt, insurance, deficit

West African Economic and Monetary Union (WAEMU) countries face a well-known dilemma between the need to provide shock-smoothing mechanisms and the lack of adequate mechanisms to do so. WAEMU countries are subject...