HAL will be down for maintenance from Friday, June 10 at 4pm through Monday, June 13 at 9am. More information
Skip to Main content Skip to Navigation
Journal articles

Inflation Dynamics of Franc-Zone Countries Determinants, Co-movements and Spatial Interactions

Abstract : This paper shows the uneven role played in the inflation dynamics of African franc zone countries by their integration in a regional monetary union. We obtain three main results sharply contrasting the central- (CEMAC) and west-African (WAEMU) regions. First, differences in the structure of economies and national fiscal stances play a similar role in both unions and appear as potential sources of inflation differentials. Second, even though co-movements are the principal drivers of inflation dynamics in both subregions, global factors dominate regional ones in WAEMU while both play an equal role in CEMAC. Thirdly, spatial interactions are unimportant in CEMAC due to little intra-zone trade, but take an asymmetric form in WAEMU due to the large size of Ivory Coast and Senegal.
Document type :
Journal articles
Complete list of metadata

Contributor : Elisabeth Lhuillier Connect in order to contact the contributor
Submitted on : Friday, January 18, 2019 - 2:06:19 PM
Last modification on : Sunday, February 20, 2022 - 3:10:08 AM




Eric Girardin, Cheikh Sall. Inflation Dynamics of Franc-Zone Countries Determinants, Co-movements and Spatial Interactions. Open Economies Review, Springer Verlag, 2018, 29 (2), pp.295-320. ⟨10.1007/s11079-017-9456-x⟩. ⟨hal-01985975⟩



Record views