Some Problems of Monetary Dependency in French Speaking West Africa States

Since Independence in 1960, the nine French-speaking African states, Dahomey, Guinea, Ivory Coast, Mali, Mauritania, Niger, Senegal, Togo, and Upper Volta have pursued different money and banking policies. The question raised in this article is whether these states have gained sufficient control of money and banking institutions to formulate independent policies that can direct accumulated investments in industry and agriculture. Sections: The development of banks and financial policies during the decade after independence – The functions of the Banque Centrale des Etats de l’Afrique de l’Quest (BCEAO) – The operation account – the advantages of monetary arrangements to franc zone members – The shortcomings of the operation account to UMOA states (1962-1975): dependency – New developments between Union Montaire Ouest Africaine (UMOA) states and France and its EEC partners (new agreements; the Lom Convention of February 1975) – Independent monetary experiments in West Africa (the Guinean, Malian, Mauritanian, monetary experiences) – Conclusions. Notes, tab.

Title: Some Problems of Monetary Dependency in French Speaking West Africa States
Author: Yansane, Aguibou Y.
Year: 1978
Periodical: Journal of African Studies (UCLA)
Volume: 5
Issue: 4
Period: Winter
Pages: 444-470
Language: English
Geographic terms: French-speaking Africa
West Africa
Abstract: Since Independence in 1960, the nine French-speaking African states, Dahomey, Guinea, Ivory Coast, Mali, Mauritania, Niger, Senegal, Togo, and Upper Volta have pursued different money and banking policies. The question raised in this article is whether these states have gained sufficient control of money and banking institutions to formulate independent policies that can direct accumulated investments in industry and agriculture. Sections: The development of banks and financial policies during the decade after independence – The functions of the Banque Centrale des Etats de l’Afrique de l’Quest (BCEAO) – The operation account – the advantages of monetary arrangements to franc zone members – The shortcomings of the operation account to UMOA states (1962-1975): dependency – New developments between Union Montaire Ouest Africaine (UMOA) states and France and its EEC partners (new agreements; the Lom Convention of February 1975) – Independent monetary experiments in West Africa (the Guinean, Malian, Mauritanian, monetary experiences) – Conclusions. Notes, tab.