01604cas a2200253 a 4500 AALejournalIMF013949 230101c9999 xx r poo 0 0eng d 5.00 USD 9781484398685 1018-5941 BD-DhAAL BD-DhAAL Hitaj, Ermal. Fiscal Discipline in WAEMU : Rules, Institutions, and Markets / Ermal Hitaj, Yasin Kursat Onder. Washington, D.C. : International Monetary Fund, 2013. 1 online resource (29 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 This paper gauges the scope for market discipline and the effectiveness of the regional surveillance framework in the West African Economic and Monetary Union (WAEMU). The paper finds that the responsiveness of sovereign bond rates to governments' fiscal behavior in the regional financial market remains limited. In addition, the paper examines the effectiveness of fiscal rules and institutions in an environment where financial markets fall short of exerting a significant disciplining effect on governments. Mode of access: Internet Kursat Onder, Yasin. IMF Working Papers; Working Paper ; No. 2013/216 Full text available on IMF http://elibrary.imf.org/view/journals/001/2013/216/001.2013.issue-216-en.xml IMF e-Library