The FCFA Currency: An Eminently Linguistic Issue

In a situation of illiteracy at a rate of 54%, with over 80% of the population not speaking French (ANSD, 2013), it is very difficult to carry out effective development policies in Senegal without taking into account the language issue. From this point of view, the FCFA currency, which is expressed in French, poses a lot of problems for the African populations of the franc zone. The debate around this currency has so far been more focused on financial or fiduciary aspects than on the fundamental mechanisms that help to better understand the environment in which economic agents operate. Beyond its linguistic symbolism steeped in history, the FCFA creates cognitive problems that make it difficult for African populations to use it. We will try in this article to show, by an analytical approach, that the denomination of a currency involves the interaction of several fields of investigation. These are economic, historical, sociological, political, and above all, linguistic. From this angle, there is reason to be interested in the Academy of African Languages (ACALAN) in the resolution of this unit of measurement.

Effects of Corruption and the Black Economy on Economic Growth in the CFA Franc Zone Countries

We conducted this study to empirically analyse the effects of corruption and the underground economy on economic growth in the case of the CFA franc zone countries over the period 2000-2016. To do so, we have carried out econometric estimations using panel data. Our empirical results obtained by the PMG (Pooled Mean Group) method confirm a negative relationship between economic growth and the underground economy in the short and long term. However, the long-run effect of corruption on economic growth is positive, while this effect becomes negative in the short run. The results could provide insight into different ways of fighting corruption and the shadow economy.

The Effect of Private Investment on Public Expenditure in the CFA Franc Zone

This paper investigates the effect of private investment on public expenditure in the CFA franc zone during the period 1980-2015. To attain this objective, the methodology adopted is the system Generalized Method of Moments (GMM). The result shows a positive and significant effect of private investment on public expenditure. This result thus justifies that private investment is an important source of increase in public expenditure. This result implies that public policies for improving private investment should be promoted: improving the business climate, improving the quality of institutions, ameliorate political environment, fight against terrorism ravaging part of Africa including Mali.

The Effect of Private Investment on Real Interest Rate in CFA Franc Zone

This paper investigates the effect of private investment on real interest rate in CFA franc zone during the period 1980-2015. To attain this objective, the methodology adopted is the system Generalized Method of Moments (GMM). The result shows a negative and significant effect of private investment on real interest rate. In view of the result obtained, we suggest that African countries in the franc zone should vigorously pursue the establishment of favorable conditions for the development of private sector. Public policies for improving private investment should be promoted: improving the business climate, ameliorate political environment, fight against terrorism ravaging part of Africa including Mali.