Political Monetary Cycles and Independence of the Central Bank in a Monetary Union: An Empirical Test for a BEAC Franc Zone Member Country

This paper attempts to study the interactions between economic decisions and political motivations of incumbent Cameroonian governments from 1960 to 1992 within the framework of a political monetary cycle. It analyses the causes of such cycles and their consequences for the independence of the Central Bank of the monetary union to which Cameroon belongs.