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Growth and crisis in Cote d'Ivoire, Volume 1
 
Author:Berthelemy, J. C.; Bourguignon, F.; Country:Cote d'Ivoire;
Date Stored:2002/09/12Document Date:1996/05/31
Document Type:PublicationSubTopics:Environmental Economics & Policies; Economic Theory & Research; Economic Stabilization; Banks & Banking Reform; Public Sector Economics
ISBN:ISBN 0-8213-2655-4Language:English
Major Sector:(Historic)Economic PolicyRegion:Africa
Report Number:15651Sub Sectors:(Historic)Macro/non-trade
Collection Title:World Bank comparative macroeconomic studiesVolume No:1

Summary: The book analyzes the decline of Cote d'Ivoire's celebrated development miracle of the 1960s and 1970s into a major macroeconomic crisis at the beginning of the 1980s and persistent recession thereafter. The crisis forced the adoption of a series of unsuccessful adjustment and stabilization programs. Thus, a new development strategy is needed to return to a strong growth path. The first part of the book provides a brief overview of Cote d'Ivoire's history and economic structure focusing on the public sector, functioning of export markets, foreign trade regime, and factors' markets organization, including the macroeconomic policy aspects of the money, credit, and capital markets, and their relationship with the franc zone and the West African Monetary Union (WAMU). The second part is devoted to the historical perspective and economic evolution of the crisis as well as its magnitude, causes, and the difficulties in overcoming it. The last part is oriented toward the country's long term prospects. Past structural changes are discussed. Then, a simple analytical model is presented to indicate the crucial obstacles to Cote d'Ivoire's economic recovery. The book closes with suggestions for possible reforms in the trade regime, in public sector organization, and in the short-run macroeconomic decision framework, with special emphasis on the constraints arising from membership in the franc zone and the WAMU.

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