Low Performance of Economic Growth in West African Economic and Monetary Union (WAEMU): Explanatory Factors

Despite the strategies implemented by governments and donors over the past fifty years, the obstacles to the promotion of a strong and sustainable economic growth in the WAEMU remain considerable.

The objective of this paper is to describe the factors explaining the slow economic growth in the WAEMU and propose a series of measures to promote harmonious development. We emphasize the importance of competitiveness to support sectors of economic activity. The study shows the importance of diversification of products and partners to exchange (1), a mixed exchange rate regime (2), economic patriotism (3) access to finance for small and medium enterprises (4) good management of public finances (5) to promote a strong and sustainable economic growth in the WAEMU.