Inflation Threshold Levels and Economic Growth in the Franc Zone Countries

Autor:	Sanga, Dimitri, Gui-Diby, Steve Loris
Jazyk:	angličtina
Rok vydání:	2020
Předmět:	CENTRAL AFRICAN MONETARY UNION INFLATION COINTEGRATION FIXED EXCHANGE RATE REGIME WEST AFRICAN ECONOMIC AND MONETARY UNION ECONOMIC GROWTH CEMAC CURRENCY UNION FRANC ZONE WAEMU
Popis:	This paper examines the growth-inflation nexus in Franc zone currency unions. It aims at estimating the inflation threshold above which additional inflationary pressures adversely affect economic expansion. It uses cointegration methods that are applied to data from 14 African countries from the Franc zone over 1970-2018. Based on country-level data, the results indicate that it is possible to increase the threshold levels used by regional central banks to 5.4-5.6 percent in the Central African Monetary Union and 4.3-4.5 percent in the West African Monetary Union. Homogeneous cointegration panel data analyses confirm the need to increase the threshold in Central African Monetary Union countries but do not in the West African Monetary Union countries.
Databáze:	OpenAIRE
Externí odkaz:	https://explore.openaire.eu/search/publication?articleId=od______2456::16ff903307672837285a3889ea4d7a7a https://hdl.handle.net/10986/34503 Zobrazit plný text záznamu