Rent and longevity of Djibouti’s currency board. A political economy of the monetary regime [Rente et longévité de la Caisse d’émission de Djibouti. Éléments pour une économie politique du régime monétaire]

Since 1949, the Republic of Djibouti has maintained the only existing currency board on the African continent. During its long existence the performance and singularity of the regime have never been questioned. This paper explores the idea that this longevity could be related to the exploitation of an intangible resource, namely the geostrategic position of the country. Preserving in the long term the reproduction and distribution of the geostrategic rent, the currency board perpetuates the flows of power and economic relationships between different actors at a national and international level. We try to theoretically link the dynamics of the monetary regime to those of the political regime. © De Boeck Supérieur. Tous droits réservés pour tous pays.