Call For Papers on Monetary Policy in Francophone Africa

Abstract Submission Deadline : March 15, 2024
Notification of Acceptance : March 30, 2024
Invited Paper Submission Deadline : April 30, 2024

Allocated Budget Per Submission:

Academic papers: USD 1,000
Case studies: USD 2,000
Research reports: USD 3,000

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I. Background

The CFA franc currency is mostly unknown in the non-French-speaking world. Until the 1980s, the idea of questioning the status of the French-backed CFA franc seemed like heresy. Since then, political leaders, prominent academics, businesses, and activists from around the world have joined their voices to recognize that the CFA system is a barrier to the development of the 14 French-speaking African countries. However, the debate has grown more nuanced with the emergence of alternative voices that vociferously advocate for the CFA system by presenting its benefits such as financial stability, convertibility into the Euro, and economic growth in member states relative to non-CFA zones. Despite the popularity of these debates, none of the contentions is backed by solid empirical evidence. The CFA franc, as a French colonial instrument to propagate dependency, is no longer tenable in the 21st century, and research is needed on how to move from this colonial arrangement to a situation where francophone African countries have full autonomy over their monetary and fiscal policies.

The overall goal of this call for proposals/submissions is to contribute to the monetary and fiscal policy autonomy of Francophone African countries in the Franc CFA zone through empiric research and case studies. In particular, it seeks to:

• Explore the possible scenarios and implications of a monetary reform in francophone Africa that would grant full autonomy to the central banks of the CFA franc zone ;
• Explain, through empirical research, the steps and strategies needed to implement an autonomous monetary policy in franc zone countries and transition away from the CFA franc;
• Identify and propose the structure of the economy of francophone African countries in a post-Franc CFA with autonomous control of monetary and fiscal policy;
• Examine the challenges and opportunities of such a reform for the economic and social development of the region.
  The Nkafu Policy Institute plans to work together with experts /researchers in Cameroon and outside Cameroon in selected countries. These selected African countries are: Algeria, Ghana, Kenya, Mauritania, Nigeria, Namibia, Rwanda, South Africa, South Sudan, Tunisia, Uganda and Zimbabwe. The findings will allow the Nkafu Policy Institute to make evidenced-based recommendations, via empiric research and case studies, regarding the debate on whether or not CFA member countries should exit the CFA zone. It will also give the Nkafu Policy Institute an opportunity to map out clear strategies for post-Franc CFA transition and potential economic and financial scenarios for such a shift in monetary policy.

II. Subject areas of submissions

• The authors will choose one of the following themes/areas for their submissions :
• The debate on the monetary autonomy of the CFA franc zone
• Effectiveness of the monetary agreements between France and the CFA Zone countries
• Reduction of foreign exchange reserves of CFA franc countries in the French treasury
• Macroeconomic and financial stability risks in the CFA franc zone;
• Analysis of strategic post CFA franc scenarios.
• Steps and strategies needed to transition away from the Franc CFA.
• Comparative analysis of monetary policy responses to the COVID-19 pandemic between Franc CFA countries and other African Countries.

III. Submission requirements

• Authors have a choice of three types of publication: academic paper, research report, and case study on financial modeling for the post-Franc CFA scenario.
• Interested authors should submit an abstract of their paper, and only authors whose abstracts are accepted may proceed to submit the full paper.
• All submissions will be licensed to Nkafu Policy Institute and are protected by copyright. Users may access, download, copy, translate, extract text and data, redistribute, display or adapt these publications for non-commercial purposes, provided they comply with the guidelines set out in the Nkafu Policy Institute user license.
• Submissions will undergo blind peer reviewsby the Nkafu team and feedback will be returned to the author(s) generally within four weeks. Submissions will be reviewed on a rolling basis, and only authors of shortlisted abstracts will be contacted to submit their full report.
• Final document are only accepted in Microsoft Word format. Before submitting your report please ensure that you have read the Guidelines and formatted your publications correctly.
• All submissions must be in English.

The requirements for each type of publication are given below:

A. Academic papers

• The submission process consists of two stages. The first step is to submit an abstract with an overview of the article. If the submission is shortlisted, authors of successful submissions will benefit from a fixed-term contract with the Denis and Lenora Foretia Foundation to write the full article. This contract period ends with the publication of the article in a peer-reviewed journal. The selected researchers will work closely with the Nkafu team to complete their paper. All tools and documents used (software, database, references, etc.) will be made available to the Nkafu team during and after the contract period.
• The author(s) must collect and enter the following information for their submission.
  1. Maximum length for the abstract is approx. 150-200 words.
  2. Abstract should be Times New Roman typeface, single-spaced. Structured abstract(s) (using subheadings) are preferred.
  3. Abstract should include: title; author/s name/s and information (organization, city, country, present address, phones, and e-mail address/ addresses; keywords (max six); JEL code; text; references
  4. The title of the abstract – 14 point, UPPERCASE, style Bold and centered..
  5. Author’s names – centered., type size 12 point, Upper and lower case, style Bold Italic.
  6. Keywords – 10 point size, style Normal, alignment Justify.
  7. Abstract text – 11 point, single-spaced, alignment Justify.
  8. References in the text should be indicated by a clickable number in square brackets, which redirects to the actual source, e.g. [1].
  9. Detailed outline of the paper (numbered)
  • Submissions should be made through the Institute’s ONLINE PORTAL. Final papers will be published in a targeted peer-review-journal.
  • The estimated budget is USD 1,000 per article.

B. Case studies on financial modeling to determine the post-Franc CFA scenario

• The submission process consists of two stages. The first step is to submit an abstract with an overview of the case study. If the submission is shortlisted, authors of successful submissions will benefit from a fixed-term contract with the Denis and Lenora Foretia Foundation to write the full case study. This contract period ends with the publication of the article in a peer-reviewed journal. The selected researchers will work closely with the Nkafu team to complete their case study. All tools and documents used (software, database, references, etc.) will be made available to the Nkafu team during and after the contract period.
• The author(s) must collect and enter the following information for their submission.
  1. Maximum length for the abstract is approx. 200-250 words.
  2. Abstract should be Times New Roman typeface, single-spaced. Structured abstract(s) (using subheadings) are preferred. The sub-headings should be:
  • Introduction: to describe the context of the case study and summarize the document as a whole. Author(s) should give a clear idea of what is particularly interesting about the case we want to describe;
  • Case presentation: to describe the methodology, data and results obtained
  • Discussion: to synthesize the previous subsections and explain apparent correlations and inconsistencies. Author(s) should try to identify any questions that the case raises.

3. Abstract should include: title; author/s name/s and information (organization, city, country, present address, phones, and e-mail address/  addresses; keywords (max six); JEL code; text; references;
4. The title of the abstract – 14 point, UPPERCASE, style Bold and centered..
5. Author’s names – centered., type size 12 point, Upper and lower case, style Bold Italic.
6. Keywords – 10 point size, style Normal, alignment Justify.
7. Abstract text – 11 point, single-spaced, alignment Justify.
8. References in the text should be indicated by a clickable number in square brackets, which redirects to the actual source, e.g. [1].
9. Detailed outline of the paper (numbered)

• Submissions should be made through the Institute’s ONLINE PORTAL. Final case study will be published in a targeted peer-review-journal.
• The estimated budget is USD 2,000 per case study.

C. Research reports

• The submission process consists of two stages. The first step is to submit an abstract with an overview of the report. If the submission is shortlisted, authors of successful submissions will benefit from a fixed-term contract with the Denis and Lenora Foretia Foundation to write the full report. This contract period ends with the publication of the article in a peer-reviewed journal. The selected researchers will work closely with the Nkafu team to complete their report. All tools and documents used (software, database, references, etc.) will be made available to the Nkafu team during and after the contract period.
• The author(s) must collect and enter the following information for their submission.
  1. Maximum length for the abstract is approx. 250-300 words.
  2. Abstract should be Times New Roman typeface, single-spaced. Abstracts should, in the briefest terms possible, describe the topic, the scope and the expectations set to the results.
  3. Abstract should include: title; author/s name/s and information (organization, city, country, present address, phones, and e-mail address/ addresses; keywords (max six); text; references;
  4. The title of the abstract – 14 point, UPPERCASE, style Bold and centered..
  5. Author’s names – centered., type size 12 point, Upper and lower case, style Bold Italic.
  6. Keywords – 10 point size, style Normal, alignment Justify.
  7. Abstract text – 11 point, single-spaced, alignment Justify.
  8. References in the text should be indicated by a clickable number in square brackets, which redirects to the actual source, e.g. [1].
  9. Detailed outline of the paper (numbered)
  • Submissions should be made through the Institute’s ONLINE PORTAL. Final case study will be published in a targeted peer-review-journal.
  • The estimated budget is USD 3,000 per report.

Important Dates:

• Abstract Submission Deadline: March 15, 2024
• Notification of Acceptance : March 30, 2024
• Invited Paper Submission Deadline: April 30, 2024

There is no submission fee. Only submissions before the indicated deadline will be considered.

About the Nkafu Policy Institute

The Nkafu Policy Institute is a nonpartisan, independent think tank at the Denis & Lenora Foretia Foundation in Yaoundé, Cameroon. Its mission is to provide independent, in-depth and insightful policy recommendations that advance the Cameroonian economy and the economies of other sub-Saharan African countries. Nkafu seeks to advance public policies that help all Africans prosper in free, fair, and sustainable economies. Its reputation is founded on its independence, high quality research and innovative policy prescriptions.

Contact

For any queries, please contact the Nkafu Policy Institute at: [email protected], or via phone at: (237) 654 86 72 54