Monetary stability versus financial stability in CEMAC. An explanation of the overliquidity paradox

      Аннотация: This book aims to assess the correlation between inflation rate and macro-financial euphoria in the Economic and Monetary Community of Central Africa (CEMAC) where it can be noted a climate of speculation. The methodological approach used by the author enables to give an explanation of the overliquidity paradox (the persistent situation in liquidity excess and the credit rationing) in the BEAC Area. Easy to read, this book widely uses tables, graphs and other illustrations that allow the reader to have an understanding of the financial history of the countries of CEMAC. It also makes a clear and pertinent comparison between the current macro financial framework of this sub-region and many financial instability episodes worldwide at different epochs; asking interesting questions about the conduct of monetary policies in CEMAC.

Ключевые слова: financial stability, animal spirits, Monetary stability, The this-time-is-different syndrome, financial pornography, overliquidity paradox, CEMAC