QUEL REGIME DE CHANGE POUR L’ECO POUR UNE DYNAMIQUE ECONOMIQUE DANS L’UEMOA ? LES LEÇONS TIREES DE L’ANCRAGE DU FRANC CFA A L’EURO

Résumé

This paper seeks to analyze whether the anchoring of the Eco would not slow down the economic dynamics of the WAEMU countries. Theories in favor of this foreign exchange policy set out many of its advantages, including price stability, which favors high growth rates. Other theories to his detriment, show that it deprives all their autonomy in terms of monetary policy and slows down their economic dynamics. Our results show that the fixed exchange rate regime does not give better results for inflation control, and therefore has a negative influence on the search for high growth. Also, UEMOA countries investments are ineffective in boosting growth. To this end, we recommend a floating exchange rate regime for the Eco administered inflation targets.