## Competitiveness in the CFA Franc Zone

_IMF Working Papers, August 1, 2007_

## Source details

**Canonical URL:** [Competitiveness in the CFA Franc Zone](https://www.imf.org/en/publications/wp/issues/2016/12/31/competitiveness-in-the-cfa-franc-zone-21276)

## Other formats

- [Markdown version](/en/publications/wp/issues/2016/12/31/competitiveness-in-the-cfa-franc-zone-21276/index.md)
- [Structured JSON version](/en/publications/wp/issues/2016/12/31/competitiveness-in-the-cfa-franc-zone-21276/index.json)
- [Bundle manifest](/en/publications/wp/issues/2016/12/31/competitiveness-in-the-cfa-franc-zone-21276/bundle-manifest.json)

## Bibliographic details
- Authors: Charalambos G Tsangarides, Gustavo Ramirez
- Published: August 1, 2007
- Series: IMF Working Papers
- DOI: https://doi.org/10.5089/9781451867763.001

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### Summary / Purpose
- This paper reviews the evolution of competitiveness in the CFA franc zone using a proposed comprehensive competitiveness framework.
- The analysis focuses on competitiveness in the WAEMU and CEMAC regions by examining the "environment" and "policy" components of competitiveness and their quantifiable determinants.
- Determinants analyzed include indicators to measure productivity and labor market conditions, prices and costs, macroeconomic performance, business environment, governance, and technology and infrastructure.

### Key findings
- Despite some recent improvements—particularly for the CEMAC—both regions face serious competitiveness challenges when compared to pier groups of countries.
- To become more competitive, raise growth, and improve the quality of life, there is a need for structural reform to:
  - improve productivity,
  - reduce factor costs,
  - create the right business, legal, and political environment to attract economic activity.

### Thematic components analyzed
- Productivity and labor market conditions
- Prices and costs
- Macroeconomic performance
- Business environment
- Governance
- Technology and infrastructure

### Subject and keywords
- Subject: Competition, Exchange rates, Exports, Real effective exchange rates, Real exchange rates
- Keywords: CEMAC, cost, exchange rate, WAEMU, WP

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## Content in this bundle

- **WAEMU and CEMAC: Real Effective Exchange Rate and Components**
  - [WAEMU and CEMAC: Real Effective Exchange Rate and Components (Markdown version)](/-/media/websites/imf/imported-full-text-pdf/external/pubs/ft/wp/2007/_wp07212.pdf.md){rel="alternate" type="text/markdown"}
  - [WAEMU and CEMAC: Real Effective Exchange Rate and Components (PDF)](/-/media/websites/imf/imported-full-text-pdf/external/pubs/ft/wp/2007/_wp07212.pdf){rel="external" type="application/pdf"}

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_Source: https://www.imf.org/en/publications/wp/issues/2016/12/31/competitiveness-in-the-cfa-franc-zone-21276_