| | | Foreword | | |
| | | Acknowledgments | | |
| | | Abbreviations | | |
| 1 | | Overview by Anne-Marie Gulde | | 1 |
| Part I | | Sustainability of Macroeconomic Policies | | |
| 2 | | Monetary Policy in a Currency Union? The Case of CEMAC by Corinne Delechat and Gustavo Ramirez and Romain Veyrune | | 27 |
| 3 | | Long-Run Determinants of Inflation in WAEMU by Abdoulaye Diop and Gilles Dufrenot and Gilles Sanon | | 54 |
| 4 | | Fiscal Reaction Functions in the CFA Franc Zone by Oumuyiwa S. Adedeji and Oral Williams | | 77 |
| 5 | | Reserve Adequacy in the CFA Franc Zone by Corinne Delechat and Jan Kees Martijn | | 90 |
| Part II | | Capacity to Adjust to Changes in External Conditions | | |
| 6 | | Economic Fundamentals and the CFA Franc Zone Real Exchange Rates by Yasser Abdih and Charalambos Tsangarides | | 123 |
| 7 | | Competitiveness in the CFA Franc Zone by Gustavo Ramirez and Charambos Tsangarides | | 154 |
| 8 | | What Is Fuzzy About Clustering in West Africa? by Mahvash Saeed Qureshi and Charalambos Tsangarides | | 200 |
| Part III | | Integration and Growth | | |
| 9 | | Financial Sector Integration in WAEMU by Amadou Sy | | 251 |
| 10 | | Banking Sector Integration and Competition in CEMAC by Samer Saab and Jerome Vacher | | 274 |
| 11 | | Growth and Convergence in the CFA Franc Zone by Catherine Pattillo and Charalambos Tsangarides and Pierre van den Boogaerde | | 299 |
| 12 | | Trade in CEMAC: Developments and Reform Opportunities by Jan Kees Martijn and Charalambos Tsangarides | | 335 |
| 13 | | Trade in WAEMU: Developments and Reform Opportunities by Manuela Goretti and Hans Weisfeld | | 364 |
| | | About the Authors | | 393 |