Monetary aspects of economics unbalances in “franc zone”'s : African countries a contribution to the analysis and solutions research on the central and western African’s economics and monetary systems crisis

Abstract

This study is an analysis of the "franc zone" economies crisis from the complex and closed relations between the institutional monetary component and the conflicting economics and financials evolutions, in the last twenty years, among nations of center and western African monetary unions. It proceeds of the established fact of the shaking of the preferential monetary zone that has already been made up by the French-African monetary system. the direct and/or indirect repercussions of the functioning of the French-African common monetary system over the respective economic and financial evolutions of the African nations during the last twenty years are the main point of the analysis: the monetary system of the franc currency zone is the main field of investigations; the monetary subject and its relation to the crisis, constitutes the main point of our analysis. The study have shown that, among several causes and origins of the crisis in African countries, the structural choices in the monetary and financial field occupy a peculiar position in the explanation of the emergence, and then of the development of the crisis within the franc currency zone. So that the monetary component such as it fits into the common monetary system appears as an essential constituent that account for the current and past dimension of the crisis among the central and western African nations. The main purpose of our study was to pinpoint the responsibility of the value of the money, and the monetary constitution in the economics problems encountered by the nations of the CFA zone. in practice, after an elaborate diagnostic of the global economic and financial situation of the CFA zone, the study had a double aim: to confront the developing rythm of each economy with the dynamism of the established monetary system in the franc currency zone; to suggest a reflection to allow the monetary construction of the African nations and the practical conditions for a necessary reorganizatio