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|z 9781513567334
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|a 2616-5333
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|a BD-DhAAL
|c BD-DhAAL
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|a Basdevant, Olivier.
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|a Strengthening the West African Economic and Monetary Union :
|b The Role of Fiscal and Market Institutions in Economic Stabilization /
|c Olivier Basdevant, Patrick Imam, Tidiane Kinda, Aleksandra Zdzienicka.
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|a Washington, D.C. :
|b International Monetary Fund,
|c 2015.
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|a 1 online resource (27 pages)
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|a Departmental Papers
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|a <strong>Off-Campus Access:</strong> No User ID or Password Required
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|a <strong>On-Campus Access:</strong> No User ID or Password Required
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|a Electronic access restricted to authorized BRAC University faculty, staff and students
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|a 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 to frequent and, to a large extent, asymmetric shocks. They have remained poorly diversified and vulnerable to external shocks, such as changing weather conditions. In addition to limited shock-smoothing mechanisms at the regional level, WAEMU members' ability to respond to shocks through national policies is also constrained by limited fiscal space and the need to preserve external stability-not only at the national level but also at the union level. In this context, developing a well-defined fiscal rule framework at the national level would help to build the necessary fiscal space for shock-smoothing. In addition, the development of specific shock-smoothing mechanisms-including a more developed and integrated financial sector-would also be critical. In addition, promoting financial development is also a challenge, which needs to be addressed in tandem with an adequate surveillance system. Some of these challenges have been faced by other monetary unions, such as the euro area.
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|a Mode of access: Internet
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|a Imam, Patrick.
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|a Kinda, Tidiane.
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|a Zdzienicka, Aleksandra.
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|a Departmental Papers; Departmental Paper ;
|v No. 2015/011
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| 856 |
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|z Full text available on IMF
|u http://elibrary.imf.org/view/journals/087/2015/011/087.2015.issue-011-en.xml
|z IMF e-Library
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