@incollection{fdi:010070455,
  title = {{S}enegal},
  author = {{D}iagne, {A}. and {C}abral, {F}.{J}. and {R}obilliard, {A}nne-{S}ophie and {C}iss{\'e}, {F}.},
  editor = {},
  language = {{ENG}},
  abstract = {{S}enegal faces daunting policy challenges if it is to meet the millennium development goals ({MDG}s). {T}he country’s economic and social developments to a large extent resemble those of other {W}est {A}frican economies. {I}n the 1970s, {GDP} growth closely tracked the average for all sub-{S}aharan {A}frican countries. {G}rowth started to decelerate progressively in 1979 due to a sharp deterioration of the countries’ terms of trade. {T}he depreciation of the dollar against the {F}rench franc, to which the {S}enegalese {CFA} franc is pegged under a fixed exchange rate regime, significantly reduced the competitiveness of {S}enegal’s exports. {T}he world market prices for groundnut oil and phosphates, the two main export products, also declined steadily, widening the trade deficit and narrowing foreign reserves. {H}igh wages (in both the public and the private sector) and taxation, and other distortions in the business environment also affected the competitiveness of the private sector. {T}he monetary situation rapidly worsened as a result of capital flight and the monetization of deficits. {I}t was only through the relaxation of fiscal discipline that the government was able to better contain the social and political tensions. {T}he vicious circle that stalled the {S}enegalese economy was halted in {J}anuary 1994 with the nominal devaluation of the {CFA} franc. {T}his marked the beginning of a second period in {S}enegal’s economic and social development.},
  keywords = {{DEVELOPPEMENT} {ECONOMIQUE} ; {ECONOMIE} {NATIONALE} ; {EXPORTATION} ; {MONNAIE} ; {POLITIQUE} {SOCIALE} ; {POLITIQUE} {FINANCIERE} ; {DEVALUATION} ; {SENEGAL}},
  booktitle = {{F}inancing human development in {A}frica, {A}sia and the {M}iddle {E}ast},
  numero = {},
  pages = {119--138},
  address = {{L}ondres},
  publisher = {{B}loomsbury},
  series = {{U}nited {N}ations {S}eries on {D}evelopment},
  year = {2013},
  DOI = {10.18356/49f3239d-en},
  ISBN = {978-1-78093-560-7},
  ISSN = {2048-2612},
  URL = {https://www.documentation.ird.fr/hor/fdi:010070455},
}