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Book Cover
Author Dore, Ousmane.

Title Experience with budgetary convergence in the WAEMU / Ousmane Dore and Paul R. Masson
Published [Washington, D.C.] : International Monetary Fund, African Dept. and Policy Development and Review Dept., [2002]
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Description 1 online resource (27 pages)
Series IMF working paper ; WP/02/108
IMF working paper ; WP/02/108
Summary This paper reviews the experience of fiscal adjustment undertaken in the West African Economic and Monetary Union (WAEMU) countries since the entry into force of the 1994 treaty establishing the framework for a regional convergence of national fiscal policies. We propose a measure of the structural deficit that corrects for movements of both the business cycle and terms of trade. Though the fiscal deficit worsened in 1998-2001 in some countries because of terms of trade deterioration and unfavorable movements in the business cycle, convergence stalled even when corrected for these factors. Meeting fiscal deficit targets in the future will be facilitated by a favorable external environment but, in any case, will require a higher revenue ratio and downward pressure on government wages as shares of GDP
Bibliography Includes bibliographical references (page 27)
Notes Master and use copy. Digital master created according to Benchmark for Faithful Digital Reproductions of Monographs and Serials, Version 1. Digital Library Federation, December 2002. MiAaHDL
digitized 2010 HathiTrust Digital Library committed to preserve pda MiAaHDL
Print version record
Subject Fiscal policy -- Africa, West.
Monetary unions -- Africa, West.
Form Electronic book
Author Masson, Paul R., 1946-
International Monetary Fund. African Department.
International Monetary Fund. Policy Development and Review Department.
ISBN 145189872X