Competitiveness in the CFA Franc Zone

By Charalambos G Tsangarides, Gustavo Ramirez

August 1, 2007

Preview Citation

Format: Chicago

Charalambos G Tsangarides, and Gustavo Ramirez. Competitiveness in the CFA Franc Zone, (USA: International Monetary Fund, 2007) accessed December 22, 2024

Disclaimer: This Working Paper should not be reported as representing the views of the IMF.The views expressed in this Working Paper are those of the author(s) and do not necessarily represent those of the IMF or IMF policy. Working Papers describe research in progress by the author(s) and are published to elicit comments and to further debate

Summary

This paper reviews the evolution of competitiveness in the CFA franc zone using a proposed comprehensive competitiveness framework. In particular, we examine competitiveness in the WAEMU and CEMAC regions by analyzing the "environment" and "policy" components of competitiveness and their quantifiable determinants, including indicators to measure productivity and labor market conditions, prices and costs, macroeconomic performance, business environment, governance, and technology and infrastructure. Our findings suggest that despite some recent improvements-particularly for the CEMAC-both regions face serious competitiveness challenges when compared to pier groups of countries. In order to become more competitive, raise growth, and improve the quality of life, there is a need for structural reform to improve productivity, reduce factor costs, and create the right business, legal, and political environment to attract economic activity.

Subject: Competition, Exchange rates, Exports, Real effective exchange rates, Real exchange rates

Keywords: CEMAC, Cost, Exchange rate, WAEMU, WP

Publication Details

Pages:

40
Volume:

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DOI:

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Issue:

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Series:

Working Paper No. 2007/212
Stock No:

WPIEA2007212
ISBN:

9781451867763
ISSN:

1018-5941

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