Aftermath of the CFA Franc Devaluation

Cossé, Stéphane; Mueller, Johannes; Dem, Jean Le; Clément, Jean

doi:10.5089/9781557755612.084

Cited by 15 publications

(3 citation statements)

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“…In the CEMAC region, the data suggest that the main effect was nearly a three-fold increase in the local currency value of commercial banks' reserves, suggesting that banks held a significant portion of their reserves in foreign currency. 19 This is corroborated by Clément et al (1996) who report evidence which suggest that net foreign assets of the banking system improved dramatically, to the extent that CEMAC moved from a net debtor to a net creditor position. After a few months, bank reserves gradually fell as banks diverted their excess reserves to more attractive investments.…”

Section: Ssa Oil Producing Ssa High Aid Dependency Cemac Waemu (Percent)mentioning

confidence: 89%

Excess Liquidity and Effectiveness of Monetary Policy: Evidence from Sub-Saharan Africa

Saxegaard

2006

SSRN Journal

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Section: Ssa Oil Producing Ssa High Aid Dependency Cemac Waemu (Percent)mentioning

confidence: 89%

Excess Liquidity and Effectiveness of Monetary Policy: Evidence from Sub-Saharan Africa

Saxegaard

2006

SSRN Journal

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“…CFA serves the rationale of testing the uni-dimensionality of the variable. According to Cossé, Mueller, Dem, and Clément (1996) CFA evaluates the data set by verifying the structure on the basis of the theoretical ground.…”

Section: Resultsmentioning

confidence: 99%

Perception of Justice and Trust in Software Industry of Pakistan

Niazi

Hassan

2017

J.manag.res

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The present study concentrates on how organizational justice influences trust and performance of employees in an organization. Trust level of employees is affected by how employees perceive justice in organizations and hence, it also affects the performance of the organization. It may be inferred that trust is a vital component in mediating the connection of organizational justice and organizational performance. The industry used for the present research is the software industry of Pakistan. A structured questionnaire was sent to 350 employees, randomly selected, working in various software firms in Punjab, Pakistan. Structural Equation Modeling-AMOS was applied for analyzing the data. The findings from the research revealed that trust played a strong mediating relationship between fairness and performance of the organization. The results provide useful insights for organizations, particularly the software firms of Pakistan since this study considers factors other than economic gain that may be more important to the employees in improving the performance of the organization.

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“…Calvo (1999) makes this point. Note that adjustment via devaluation also generates sharp capital gains and losses for agents that have different positions on foreign exchange.18 Departures from the gold standard by Argentina at other times, during financial crises for example, did not suffice to avoid serious recessionary consequences.19 For a description of the workings of the CFA franc zone, seeClement et al (1996).20 This account draws heavily onHernandez-Cati et al (1998).…”

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confidence: 99%

The Pros and Cons of Full Dollarization

Borensztein

Berg²

2000

IMF Working Papers

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The views expressed in this Working Paper arc those of the author(s) and do not necessarily represent those of the lMF or ll\.1F policy. Working Papers describe research in progress by the author( s) and are published to elicit connncnts and to further debate. WP/OO/50We analyze the costs and benefits of full dollarization compared to its closest alternative, a currency board, quantifying for Argentina where possible. Potential advantages include lower borrowing costs and deeper integration into world markets. One cost is the transfer of seigniorage to the United States. The country may also lose the "exit option" to devalue in the face of major shocks. Similarly, even a country with a currency board may lose some ability to act as lender oflast resort to the banking system. We review how various country characteristics influence the balance of arguments.

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Aftermath of the CFA Franc Devaluation

Cited by 15 publications

References 0 publications

Excess Liquidity and Effectiveness of Monetary Policy: Evidence from Sub-Saharan Africa

Excess Liquidity and Effectiveness of Monetary Policy: Evidence from Sub-Saharan Africa

Perception of Justice and Trust in Software Industry of Pakistan

The Pros and Cons of Full Dollarization

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