Fixed exchange rates have been a bad bargain for the CFA member countries. Under reasonable tradeoffs between output and inflation, these countries would have been better off having the flexibility to adjust to external shocks.
Here is a start at linking the literatures on targeting and on intrahousehold inequality which have developed rapidly but largely independent of each other.
This book provides an empirical analysis of economic and political structures impacting the CFA franc zone. Concise and practical chapters explore the history of the CFA franc zone, challenges to development, geopolitical issues, the importance of flexible exchanges rates, growth trends, and the impact of the Covid crisis. Policy reform is examined to detail economic approaches that could reduce poverty and increase the quality of life within the area. This book aims to present a macroeconomic and exchange rate framework to promote development and post-Covid recovery within the CFA franc zone. It will be of interest to students, researchers, and policymakers involved in African economics, the political economy, and development economics.
This book provides a systematic and coherent framework for understanding the interactions between the micro and macro dimensions of economic adjustment policies; that is, it explores short-run macroeconomic management and structural adjustment policies aimed at promoting economic growth. It emphasizes the importance of structural microeconomic characteristics in the transmission of policy shocks and the response of the economy to adjustment policies. It has particular relevance to the economics of developing countries. The book is directed to economists interested in an overview of the economics of reform; economists in international organizations, such as the UN, the IMF, and the World Bank, dealing with development; and economists in developing countries. It is also a text for advanced undergraduate students pursuing a degree in economic policy and management and students in political science and public policy.
As we enter the third decade of the twenty-first century, the world is undergoing a major historical shift: Africa, and the Global South more generally, is increasingly becoming a principal theatre in which the future of the planet plays itself out. But not only this: Africa is at the same time emerging as one of the great laboratories for novel forms of social, economic, political, intellectual, cultural, and artistic life. Often arising in unexpected places, these new forms of life materialize in practices that draw deeply from collective memory while simultaneously assuming distinctly contemporary, even futuristic, guises. In November 2017, the second session of the Ateliers de la pensée – Workshops of Thought – was held in Dakar, Senegal. Fifty African and diasporic intellectuals and artists participated and their debates unfolded along numerous thematic lines, approached from the standpoints of many different disciplines. This volume is the result of that encounter. Among the many topics discussed were the concurrence and entanglement of multiple temporalities, the politics of life in the Anthropocene, the project of decolonization, and the preservation and transmission of different ways of knowing. At a time when the world is haunted by the specter of its own end, the contributors to this volume ask whether one can, by taking Africa as a point of departure, seize hold of other options for the future – not only for Africa, but for the world. The Politics of Time and its companion volume, To Write the Africa World, will be indispensable works for anyone interested in Africa – its past, present, and future – and in the new forms of critical thought emerging from Africa and the Global South.