It has been argued that the institutions of the CFA Franc zone may have reduced inflation but that they also induced misalignment of the real exchange rate and that this is the explanation for their dismal revenue performance. This paper uses a panel of 22 countries in sub-Saharan Africa to estimate revenue performance over the period from 1980 to 1996. It finds that the poor cumulative relative revenue performance of the franc zone countries is mainly attributable to differences in environmental and structural factors, and to their different responses to changes in the equilibrium real exchange rate, but that the misalignment of the real exchange rate also played a part.
Download Info
To download:
If you experience problems downloading a file, check if you have the
proper application to
view it first. Information about this may be contained
in the File-Format links below. In case of further problems read
the IDEAS help
page. Note that these files are not on the IDEAS
site. Please be patient as the files may be large.
Publisher Info
Paper provided by Queen Elizabeth House, University of Oxford in its series QEH Working Papers with number
qehwps35.
Length: Date of creation: Date of revision: Handle: RePEc:qeh:qehwps:qehwps35
Contact details of provider: Postal: Queen Elizabeth House 3 Mansfield Road, Oxford, OX1 3TB United Kingdom Phone: +44 (1865) 281800 Fax: +44 (1865) 281801 Email: Web page: http://www.qeh.ox.ac.uk/ More information through EDIRC
For technical questions regarding this item, or to correct its listing, contact: (Rachel Crawford).
Cited by: (explanations, Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.)