01826cas a2200253 a 4500 AALejournalIMF001268 230101c9999 xx r poo 0 0eng d 5.00 USD 9781451853209 1018-5941 BD-DhAAL BD-DhAAL Nachega, Jean-Claude. Budgetary Convergence in the WEAMU : Adjustment Through Revenue or Expenditure? / Jean-Claude Nachega, Ousmane Dore. Washington, D.C. : International Monetary Fund, 2000. 1 online resource (31 pages) IMF Working Papers <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students A regional convergence pact adopted recently by the Conference of Heads of States of WAEMU provides a framework for fiscal convergence similar to the European Union's Maastricht Treaty. Using bivariate co-integration and error-correction models, this paper investigates the relationship between revenue and expenditure in seven member countries to determine the feasibility and nature of the policy adjustment required to meet the new convergence criteria. The results indicate that, in the long run, there is causality running from revenue to expenditure in Burkina Faso and Senegal, from expenditure to revenue in Benin and Togo, a bidirectional causality in Cote d'Ivoire and Mali, and no causality in Niger. Mode of access: Internet Dore, Ousmane. IMF Working Papers; Working Paper ; No. 2000/109 Full text available on IMF http://elibrary.imf.org/view/journals/001/2000/109/001.2000.issue-109-en.xml IMF e-Library